$8.55 Billion in Sales Expected for Northrop Grumman Co. (NYSE:NOC) This Quarter

Analysts expect Northrop Grumman Co. (NYSE:NOC) to report sales of $8.55 billion for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Northrop Grumman’s earnings. The highest sales estimate is $8.63 billion and the lowest is $8.44 billion. Northrop Grumman posted sales of $8.09 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.7%. The business is scheduled to report its next quarterly earnings results on Wednesday, October 23rd.

On average, analysts expect that Northrop Grumman will report full year sales of $34.01 billion for the current year, with estimates ranging from $33.92 billion to $34.08 billion. For the next fiscal year, analysts anticipate that the business will report sales of $36.03 billion, with estimates ranging from $35.76 billion to $36.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Northrop Grumman.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $5.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.64 by $0.42. The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.41 billion. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. Northrop Grumman’s revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the company earned $4.50 EPS.



Several research firms recently commented on NOC. Morgan Stanley upgraded Northrop Grumman from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $335.00 to $418.00 in a research report on Tuesday, August 6th. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 30th. UBS Group raised their target price on Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Bank of America restated a “buy” rating and set a $405.00 target price (up previously from $355.00) on shares of Northrop Grumman in a research report on Thursday, July 25th. Finally, ValuEngine upgraded Northrop Grumman from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $345.93.

Shares of Northrop Grumman stock traded up $2.68 during midday trading on Tuesday, hitting $367.90. 25,804 shares of the company were exchanged, compared to its average volume of 1,018,711. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.25 and a quick ratio of 1.15. The firm has a market cap of $62.42 billion, a P/E ratio of 17.25, a PEG ratio of 1.52 and a beta of 0.81. Northrop Grumman has a 52 week low of $223.63 and a 52 week high of $377.34. The firm has a 50 day simple moving average of $338.57 and a 200-day simple moving average of $302.27.

In related news, VP Patrick M. Antkowiak sold 1,932 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $310.00, for a total transaction of $598,920.00. Following the completion of the sale, the vice president now directly owns 5,208 shares of the company’s stock, valued at approximately $1,614,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher T. Jones sold 5,000 shares of Northrop Grumman stock in a transaction on Monday, July 29th. The shares were sold at an average price of $353.19, for a total value of $1,765,950.00. Following the completion of the sale, the vice president now directly owns 67,422 shares of the company’s stock, valued at $23,812,776.18. The disclosure for this sale can be found here. Insiders have sold a total of 14,740 shares of company stock valued at $5,087,496 over the last ninety days. Insiders own 0.45% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOC. Clear Creek Financial Management LLC bought a new stake in shares of Northrop Grumman in the second quarter valued at about $212,000. Prestige Wealth Management Group LLC bought a new stake in shares of Northrop Grumman in the second quarter valued at about $120,000. Mutual Advisors LLC lifted its holdings in shares of Northrop Grumman by 5.8% in the second quarter. Mutual Advisors LLC now owns 2,487 shares of the aerospace company’s stock valued at $804,000 after purchasing an additional 136 shares in the last quarter. Hanlon Investment Management Inc. bought a new stake in shares of Northrop Grumman in the second quarter valued at about $214,000. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Northrop Grumman by 5.0% in the second quarter. Integrated Wealth Concepts LLC now owns 890 shares of the aerospace company’s stock valued at $288,000 after purchasing an additional 42 shares in the last quarter. 83.71% of the stock is owned by institutional investors.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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