Northrop Grumman Corporation (NYSE:NOC – Get Free Report) declared a quarterly dividend on Wednesday, August 19th. Shareholders of record on Monday, August 31st will be given a dividend of 2.47 per share by the aerospace company on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, August 31st.
Northrop Grumman has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 22 years. Northrop Grumman has a payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Northrop Grumman to earn $30.44 per share next year, which means the company should continue to be able to cover its $9.88 annual dividend with an expected future payout ratio of 32.5%.
Northrop Grumman Price Performance
NYSE NOC opened at $563.90 on Friday. Northrop Grumman has a 52 week low of $479.02 and a 52 week high of $774.00. The company has a current ratio of 1.17, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81. The stock has a market cap of $80.09 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 3.77 and a beta of -0.11. The company has a 50-day moving average price of $541.39 and a two-hundred day moving average price of $610.46.
Wall Street Analyst Weigh In
Several analysts have weighed in on NOC shares. The Goldman Sachs Group cut their target price on Northrop Grumman from $603.00 to $533.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 14th. Jefferies Financial Group decreased their price target on Northrop Grumman from $620.00 to $580.00 and set a “hold” rating for the company in a research note on Friday, June 26th. Susquehanna lowered their price target on Northrop Grumman from $785.00 to $655.00 and set a “positive” rating on the stock in a report on Wednesday, July 22nd. Wells Fargo & Company restated an “overweight” rating and set a $620.00 price objective on shares of Northrop Grumman in a research note on Wednesday, July 8th. Finally, Citigroup increased their target price on shares of Northrop Grumman from $617.00 to $667.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Northrop Grumman presently has an average rating of “Moderate Buy” and an average target price of $661.30.
Read Our Latest Stock Report on NOC
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.
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