FY2024 EPS Forecast for Northrop Grumman Raised by Analyst

Northrop Grumman Co. (NYSE:NOC) – Equities researchers at Zacks Research raised their FY2024 earnings estimates for shares of Northrop Grumman in a research note issued to investors on Thursday, November 14th. Zacks Research analyst A. Dutta now anticipates that the aerospace company will post earnings per share of $25.78 for the year, up from their prior estimate of $24.98. The consensus estimate for Northrop Grumman’s current full-year earnings is $25.93 per share. Zacks Research also issued estimates for Northrop Grumman’s Q1 2025 earnings at $6.43 EPS, FY2025 earnings at $27.46 EPS and FY2026 earnings at $29.42 EPS.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Northrop Grumman’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $6.18 earnings per share.

A number of other equities research analysts have also weighed in on NOC. UBS Group boosted their price target on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. upped their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Citigroup lifted their price objective on shares of Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Barclays upped their target price on Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Alembic Global Advisors cut Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target for the company. in a research report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Trading Up 0.4 %

Shares of NYSE:NOC opened at $490.86 on Monday. The business’s 50-day moving average is $521.97 and its 200 day moving average is $486.44. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. Northrop Grumman has a 1 year low of $418.60 and a 1 year high of $555.57. The firm has a market capitalization of $71.52 billion, a P/E ratio of 30.41, a P/E/G ratio of 1.00 and a beta of 0.35.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 1,289 shares of company stock valued at $685,273. 0.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Optimum Investment Advisors increased its stake 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 buying an additional 41 shares in the last quarter. Bank & Trust Co purchased a new position in shares of Northrop Grumman in the second quarter valued at approximately $28,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Northrop Grumman during the third quarter worth approximately $31,000. Meeder Asset Management Inc. raised its stake in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new position in Northrop Grumman in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

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.