Northrop Grumman (NYSE:NOC) Reaches New 1-Year High at $512.38

Northrop Grumman Co. (NYSE:NOC) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $512.38 and last traded at $510.84, with a volume of 40233 shares changing hands. The stock had previously closed at $512.00.

Analysts Set New Price Targets

A number of research analysts recently commented on NOC shares. Morgan Stanley upped their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. BTIG Research began coverage on shares of Northrop Grumman in a research note on Wednesday, June 26th. They issued a “buy” rating and a $565.00 price target on the stock. Jefferies Financial Group cut their price objective on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a report on Tuesday, June 18th. UBS Group boosted their price objective on shares of Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, Barclays boosted their price objective on shares of Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Northrop Grumman currently has an average rating of “Hold” and a consensus price target of $523.20.

Northrop Grumman Stock Performance

The stock’s fifty day moving average price is $464.23 and its two-hundred day moving average price is $461.59. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. The company has a market cap of $76.02 billion, a P/E ratio of 35.92, a P/E/G ratio of 2.26 and a beta of 0.32.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, beating the consensus estimate of $5.93 by $0.43. The business had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.34 EPS. As a group, equities analysts predict that Northrop Grumman Co. will post 25.18 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be paid a $2.06 dividend. This represents a $8.24 annualized dividend and a yield of 1.60%. The ex-dividend date is Tuesday, September 3rd. Northrop Grumman’s payout ratio is 57.62%.

Insider Activity at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the transaction, the vice president now directly owns 4,634 shares in the company, valued at approximately $2,317,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the transaction, the vice president now owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Northrop Grumman

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new position in Northrop Grumman in the 4th quarter valued at approximately $25,000. SRS Capital Advisors Inc. increased its position in shares of Northrop Grumman by 960.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company’s stock worth $25,000 after buying an additional 48 shares during the period. Optimum Investment Advisors increased its position in shares of Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after buying an additional 41 shares during the period. Bank & Trust Co acquired a new stake in shares of Northrop Grumman during the second quarter worth $28,000. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Northrop Grumman during the fourth quarter worth $29,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.