Northrop Grumman Co. (NOC) Chairman Wesley G. Bush Sells 10,000 Shares of Stock

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Northrop Grumman Co. (NYSE:NOC) Chairman Wesley G. Bush sold 10,000 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $274.73, for a total transaction of $2,747,300.00. Following the sale, the chairman now owns 9,600 shares of the company’s stock, valued at $2,637,408. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NYSE:NOC opened at $282.74 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.26 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $47.54 billion, a price-to-earnings ratio of 21.29, a P/E/G ratio of 1.03 and a beta of 0.83. Northrop Grumman Co. has a 12 month low of $251.66 and a 12 month high of $360.88.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $6.54 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $2.19. The business had revenue of $8.09 billion during the quarter, compared to analysts’ expectations of $7.99 billion. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the company posted $3.67 earnings per share. As a group, research analysts anticipate that Northrop Grumman Co. will post 19.06 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. St. Johns Investment Management Company LLC lifted its position in shares of Northrop Grumman by 5.1% during the third quarter. St. Johns Investment Management Company LLC now owns 3,395 shares of the aerospace company’s stock valued at $1,077,000 after purchasing an additional 166 shares in the last quarter. Winfield Associates Inc. lifted its position in shares of Northrop Grumman by 14.6% during the second quarter. Winfield Associates Inc. now owns 1,375 shares of the aerospace company’s stock valued at $423,000 after purchasing an additional 175 shares in the last quarter. Torch Wealth Management LLC lifted its position in shares of Northrop Grumman by 3.7% during the second quarter. Torch Wealth Management LLC now owns 4,862 shares of the aerospace company’s stock valued at $1,496,000 after purchasing an additional 175 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of Northrop Grumman by 7.8% during the second quarter. Trust Co. of Vermont now owns 2,447 shares of the aerospace company’s stock valued at $753,000 after purchasing an additional 177 shares in the last quarter. Finally, CMH Wealth Management LLC lifted its position in shares of Northrop Grumman by 2.7% during the second quarter. CMH Wealth Management LLC now owns 6,762 shares of the aerospace company’s stock valued at $2,089,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 82.16% of the company’s stock.

NOC has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $352.00 price objective for the company in a research report on Thursday, October 11th. Goldman Sachs Group reduced their price target on shares of Northrop Grumman to $414.00 and set a “conviction-buy” rating for the company in a report on Thursday, July 26th. Stifel Nicolaus set a $280.00 price target on shares of Northrop Grumman and gave the stock a “hold” rating in a report on Thursday, October 25th. UBS Group started coverage on shares of Northrop Grumman in a report on Wednesday, August 15th. They issued a “neutral” rating and a $315.00 price target for the company. Finally, Credit Suisse Group reduced their price target on shares of Northrop Grumman from $341.00 to $326.00 and set a “neutral” rating for the company in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Northrop Grumman currently has a consensus rating of “Buy” and an average target price of $357.18.

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About Northrop Grumman

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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