Traders Sell Northrop Grumman (NOC) on Strength (NOC)

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Investors sold shares of Northrop Grumman Co. (NYSE:NOC) on strength during trading on Thursday. $75.99 million flowed into the stock on the tick-up and $137.75 million flowed out of the stock on the tick-down, for a money net flow of $61.76 million out of the stock. Of all equities tracked, Northrop Grumman had the 0th highest net out-flow for the day. Northrop Grumman traded up $4.94 for the day and closed at $301.69

A number of analysts recently weighed in on NOC shares. Royal Bank of Canada increased their price objective on shares of Northrop Grumman to $431.00 and gave the stock an “outperform” rating in a report on Friday, May 18th. Credit Suisse Group lowered their target price on shares of Northrop Grumman from $342.00 to $326.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 22nd. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $379.00 target price on the stock in a research note on Monday, June 11th. ValuEngine cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. Finally, Goldman Sachs Group lowered their target price on shares of Northrop Grumman to $414.00 and set a “conviction-buy” rating on the stock in a research note on Thursday, July 26th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $362.16.

The company has a market capitalization of $52.53 billion, a PE ratio of 22.63, a P/E/G ratio of 1.60 and a beta of 0.67. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.15 and a current ratio of 1.24.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, July 25th. The aerospace company reported $3.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.84 by $0.09. The company had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $7.10 billion. Northrop Grumman had a net margin of 8.33% and a return on equity of 34.88%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.16 EPS. research analysts predict that Northrop Grumman Co. will post 16.84 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Stockholders of record on Monday, August 27th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Friday, August 24th. This represents a $4.80 annualized dividend and a dividend yield of 1.60%. Northrop Grumman’s dividend payout ratio is currently 36.14%.

In other Northrop Grumman news, VP David T. Perry sold 4,425 shares of the firm’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $300.27, for a total value of $1,328,694.75. Following the completion of the transaction, the vice president now directly owns 28,112 shares in the company, valued at $8,441,190.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kenneth L. Bedingfield sold 1,442 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $300.00, for a total transaction of $432,600.00. The disclosure for this sale can be found here. Insiders sold a total of 31,475 shares of company stock worth $9,390,331 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its holdings in shares of Northrop Grumman by 0.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,102,561 shares of the aerospace company’s stock worth $1,262,358,000 after buying an additional 14,085 shares during the period. Bank of America Corp DE boosted its holdings in shares of Northrop Grumman by 6.5% in the second quarter. Bank of America Corp DE now owns 2,317,955 shares of the aerospace company’s stock worth $713,234,000 after buying an additional 142,267 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of Northrop Grumman by 2.4% in the second quarter. Macquarie Group Ltd. now owns 2,178,242 shares of the aerospace company’s stock worth $670,245,000 after buying an additional 50,422 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Northrop Grumman by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 1,529,563 shares of the aerospace company’s stock worth $470,646,000 after buying an additional 130,066 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of Northrop Grumman by 9.2% in the second quarter. Morgan Stanley now owns 1,045,931 shares of the aerospace company’s stock worth $321,832,000 after buying an additional 88,338 shares during the period. Institutional investors own 81.55% of the company’s stock.

About Northrop Grumman (NYSE:NOC)

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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