Northrop Grumman (NYSE:NOC) Hits New 1-Year High – Still a Buy?

Northrop Grumman Corporation (NYSE:NOC)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $674.75 and last traded at $663.3230, with a volume of 63513 shares traded. The stock had previously closed at $666.90.

Wall Street Analysts Forecast Growth

NOC has been the topic of a number of recent research reports. Susquehanna reaffirmed a “positive” rating and set a $752.00 price objective on shares of Northrop Grumman in a research note on Thursday. Morgan Stanley restated an “overweight” rating and set a $714.00 price target on shares of Northrop Grumman in a research report on Tuesday, December 16th. Truist Financial reiterated a “hold” rating and issued a $623.00 price objective (down previously from $688.00) on shares of Northrop Grumman in a research report on Friday, January 9th. UBS Group increased their price objective on Northrop Grumman from $770.00 to $777.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Northrop Grumman from $575.00 to $640.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $656.82.

Northrop Grumman Price Performance

The firm’s 50-day moving average is $579.49 and its 200-day moving average is $579.07. The company has a quick ratio of 0.98, a current ratio of 1.11 and a debt-to-equity ratio of 0.95. The company has a market cap of $94.49 billion, a PE ratio of 23.82, a PEG ratio of 5.41 and a beta of 0.05.

Northrop Grumman (NYSE:NOC) last released its earnings results on Tuesday, October 21st. The aerospace company reported $7.67 EPS for the quarter, beating analysts’ consensus estimates of $6.43 by $1.24. The company had revenue of $10.42 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Northrop Grumman had a return on equity of 25.49% and a net margin of 9.82%.The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $7.00 EPS. On average, equities analysts anticipate that Northrop Grumman Corporation will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Monday, December 1st were given a dividend of $2.31 per share. This represents a $9.24 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, December 1st. Northrop Grumman’s dividend payout ratio (DPR) is 33.24%.

Insider Buying and Selling

In related news, Director Mark A. Welsh III sold 97 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $564.08, for a total value of $54,715.76. Following the sale, the director owned 4,281 shares in the company, valued at $2,414,826.48. This represents a 2.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 3,000 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $615.00, for a total value of $1,845,000.00. Following the transaction, the chief executive officer owned 191,602 shares of the company’s stock, valued at $117,835,230. The trade was a 1.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 10,097 shares of company stock worth $6,099,716. Insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Northrop Grumman

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Perigon Wealth Management LLC lifted its position in Northrop Grumman by 65.6% during the fourth quarter. Perigon Wealth Management LLC now owns 4,706 shares of the aerospace company’s stock valued at $2,683,000 after purchasing an additional 1,864 shares during the period. Sharp Wealth Advisory LLC purchased a new position in shares of Northrop Grumman in the 4th quarter worth $248,000. Aberdeen Group plc increased its position in Northrop Grumman by 12.6% during the fourth quarter. Aberdeen Group plc now owns 13,681 shares of the aerospace company’s stock valued at $7,801,000 after acquiring an additional 1,528 shares during the last quarter. Dorato Capital Management purchased a new position in Northrop Grumman in the fourth quarter worth about $744,000. Finally, Trust Co. of Vermont grew its stake in shares of Northrop Grumman by 2.1% during the 4th quarter. Trust Co. of Vermont now owns 1,111 shares of the aerospace company’s stock valued at $634,000 after purchasing an additional 23 shares during the period. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Company Profile

Northrop Grumman Corporation (NYSE: NOC) is a leading U.S.-based aerospace and defense company that designs, builds and sustains advanced systems, products and technologies for government and commercial customers. Formed through the combination of Northrop and Grumman businesses in the 1990s, the company’s portfolio spans manned and unmanned aircraft, space systems, missile defense, radar and sensor systems, and integrated command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions.

The company’s work includes airframe and platform manufacturing, space hardware and satellite systems, advanced mission systems and cybersecurity services, as well as logistics, sustainment and modernization programs.