Insider Selling: Northrop Grumman Co. (NYSE:NOC) VP Sells 192 Shares of Stock

Northrop Grumman Co. (NYSE:NOC) VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the transaction, the vice president now directly owns 709 shares in the company, valued at approximately $304,217.72. This represents a 21.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $449.98 on Tuesday. The company has a market capitalization of $65.14 billion, a PE ratio of 15.88, a PEG ratio of 3.73 and a beta of 0.35. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. The stock’s fifty day simple moving average is $470.38 and its 200 day simple moving average is $497.29.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, research analysts predict that Northrop Grumman Co. will post 28.05 EPS for the current year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.08%.

Northrop Grumman declared that its board has initiated a share buyback program on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NOC shares. Truist Financial started coverage on Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price objective on the stock. Susquehanna reduced their price objective on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Citigroup upped their price objective on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Finally, UBS Group cut their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $544.56.

Hedge Funds Weigh In On Northrop Grumman

A number of large investors have recently added to or reduced their stakes in the company. PBMares Wealth Management LLC increased its holdings in Northrop Grumman by 0.5% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after purchasing an additional 20 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its holdings in Northrop Grumman by 0.9% during the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock worth $1,194,000 after purchasing an additional 20 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in Northrop Grumman by 0.9% during the 3rd quarter. Meeder Advisory Services Inc. now owns 2,288 shares of the aerospace company’s stock worth $1,208,000 after purchasing an additional 20 shares in the last quarter. Frank Rimerman Advisors LLC increased its holdings in Northrop Grumman by 1.1% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 1,937 shares of the aerospace company’s stock worth $1,023,000 after purchasing an additional 21 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of Northrop Grumman by 0.3% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 8,320 shares of the aerospace company’s stock valued at $4,394,000 after acquiring an additional 21 shares in the last quarter. Institutional investors own 83.40% of the company’s stock.

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.