Northrop Grumman Corporation (NYSE:NOC – Get Free Report)’s stock price gapped down before the market opened on Wednesday. The stock had previously closed at $504.61, but opened at $483.00. Northrop Grumman shares last traded at $484.5310, with a volume of 245,732 shares trading hands.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on NOC. Robert W. Baird set a $500.00 price target on Northrop Grumman in a research report on Wednesday, July 22nd. TD Cowen raised their target price on shares of Northrop Grumman from $550.00 to $590.00 and gave the company a “hold” rating in a research note on Wednesday, August 19th. Weiss Ratings lowered shares of Northrop Grumman from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 10th. JPMorgan Chase & Co. dropped their target price on shares of Northrop Grumman from $635.00 to $600.00 and set a “neutral” rating for the company in a research report on Thursday, July 23rd. Finally, Susquehanna cut their price target on shares of Northrop Grumman from $785.00 to $655.00 and set a “positive” rating for the company in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Northrop Grumman presently has a consensus rating of “Moderate Buy” and a consensus price target of $658.29.
View Our Latest Research Report on Northrop Grumman
Northrop Grumman Stock Down 3.8%
Northrop Grumman (NYSE:NOC – Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $7.68 earnings per share for the quarter, topping analysts’ consensus estimates of $6.82 by $0.86. The firm had revenue of $10.88 billion for the quarter, compared to analyst estimates of $10.80 billion. Northrop Grumman had a return on equity of 24.25% and a net margin of 10.48%.The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $8.15 EPS. Northrop Grumman has set its FY 2026 guidance at 28.600-29.100 EPS. Research analysts predict that Northrop Grumman Corporation will post 28.97 EPS for the current fiscal year.
Northrop Grumman Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Monday, August 31st were paid a dividend of $2.47 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $9.88 annualized dividend and a yield of 2.0%. Northrop Grumman’s payout ratio is presently 31.39%.
Insider Buying and Selling
In other news, Director Mark Welsh, III sold 95 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $547.53, for a total transaction of $52,015.35. Following the completion of the transaction, the director directly owned 4,393 shares in the company, valued at $2,405,299.29. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.21% of the company’s stock.
Hedge Funds Weigh In On Northrop Grumman
A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Northrop Grumman during the second quarter valued at approximately $6,001,616,000. Bank of America Corp DE bought a new position in Northrop Grumman in the second quarter worth approximately $1,298,141,000. Capital World Investors boosted its stake in shares of Northrop Grumman by 39.4% during the 4th quarter. Capital World Investors now owns 3,434,041 shares of the aerospace company’s stock worth $1,958,151,000 after acquiring an additional 970,029 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Northrop Grumman during the 2nd quarter valued at $376,135,000. Finally, Corient Private Wealth LP bought a new stake in shares of Northrop Grumman during the 2nd quarter valued at $44,039,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.
Northrop Grumman Company Profile
Northrop Grumman Corporation (NYSE:NOC) is a global aerospace and defense company that develops and produces systems for government and commercial customers, with the U.S. Department of Defense and other government agencies representing its primary markets. Its work spans advanced aircraft, autonomous systems, space systems, missile defense, command and control, cybersecurity, and other mission-critical technologies.
The company’s offerings include strategic and tactical aircraft, unmanned aerial vehicles, aircraft systems, satellites, spacecraft, launch vehicles, missile-warning and missile-defense systems, secure communications, and cyber and information systems.
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