Northrop Grumman Co. to Post FY2024 Earnings of $25.07 Per Share, Seaport Res Ptn Forecasts (NYSE:NOC)

Northrop Grumman Co. (NYSE:NOC) – Stock analysts at Seaport Res Ptn raised their FY2024 earnings per share estimates for Northrop Grumman in a research report issued to clients and investors on Tuesday, September 3rd. Seaport Res Ptn analyst R. Safran now anticipates that the aerospace company will post earnings per share of $25.07 for the year, up from their previous estimate of $24.76. The consensus estimate for Northrop Grumman’s current full-year earnings is $25.15 per share. Seaport Res Ptn also issued estimates for Northrop Grumman’s Q4 2024 earnings at $6.45 EPS, Q1 2025 earnings at $6.42 EPS, Q2 2025 earnings at $6.65 EPS, Q3 2025 earnings at $6.88 EPS, Q4 2025 earnings at $7.70 EPS and FY2025 earnings at $27.64 EPS.

Other equities analysts have also recently issued research reports about the company. Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price for the company. in a report on Tuesday, August 27th. BTIG Research initiated coverage on Northrop Grumman in a report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price for the company. Sanford C. Bernstein cut Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 target price for the company. in a report on Friday, June 21st. TD Cowen lifted their target price on Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Finally, Royal Bank of Canada raised their price target on Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $523.20.

Northrop Grumman Stock Performance

NYSE NOC opened at $523.49 on Wednesday. The stock has a market capitalization of $77.47 billion, a PE ratio of 36.61, a P/E/G ratio of 2.40 and a beta of 0.32. The business has a 50 day simple moving average of $475.08 and a two-hundred day simple moving average of $464.53. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99. Northrop Grumman has a 1-year low of $414.56 and a 1-year high of $528.76.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share 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 analysts’ expectations of $10.02 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $5.34 EPS.

Hedge Funds Weigh In On Northrop Grumman

Several institutional investors have recently made changes to their positions in the company. Optimum Investment Advisors increased its stake in shares of Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 41 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at $29,000. Bank & Trust Co purchased a new stake in Northrop Grumman in the 2nd quarter worth $28,000. Meeder Asset Management Inc. increased its holdings in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares in the last quarter. Finally, Rise Advisors LLC purchased a new position in Northrop Grumman during the first quarter valued at $38,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the transaction, the vice president now directly owns 6,755 shares in the company, valued at approximately $3,225,917.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the sale, the vice president now directly owns 4,634 shares in the company, valued at $2,317,000. The disclosure for this sale can be found here. Insiders have sold a total of 2,813 shares of company stock worth $1,375,877 in the last ninety days. 0.22% of the stock is owned by insiders.

Northrop Grumman Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd will be paid a dividend of $2.06 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $8.24 annualized dividend and a yield of 1.57%. Northrop Grumman’s dividend payout ratio (DPR) is 57.62%.

Northrop Grumman Company Profile

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.