Seaport Res Ptn Weighs in on Northrop Grumman Co.’s Q3 2024 Earnings (NYSE:NOC)

Northrop Grumman Co. (NYSE:NOC) – Analysts at Seaport Res Ptn raised their Q3 2024 earnings per share estimates for Northrop Grumman in a report released on Tuesday, September 3rd. Seaport Res Ptn analyst R. Safran now expects that the aerospace company will post earnings per share of $5.93 for the quarter, up from their previous estimate of $5.92. The consensus estimate for Northrop Grumman’s current full-year earnings is $25.15 per share.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, topping 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 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 period in the prior year, the company posted $5.34 EPS.

Other analysts have also issued reports about the stock. Sanford C. Bernstein lowered shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price objective for the company. in a research note on Friday, June 21st. Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a report on Tuesday, August 27th. TD Cowen upped their target price on Northrop Grumman from $440.00 to $515.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Jefferies Financial Group dropped their price target on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating on the stock in a research note on Tuesday, June 18th. Finally, UBS Group increased their price objective on Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $523.20.

Northrop Grumman Stock Down 0.8 %

NYSE NOC opened at $519.39 on Thursday. Northrop Grumman has a 52 week low of $414.56 and a 52 week high of $528.76. The company has a fifty day moving average of $476.77 and a two-hundred day moving average of $464.91. The firm has a market capitalization of $76.86 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 2.40 and a beta of 0.32. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $2.06 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $8.24 annualized dividend and a yield of 1.59%. Northrop Grumman’s dividend payout ratio (DPR) is currently 57.62%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the vice president now directly owns 4,634 shares in the company, valued at $2,317,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas H. Jones sold 1,389 shares of the business’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 directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,813 shares of company stock worth $1,375,877. 0.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Northrop Grumman

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

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.