Northrop Grumman Co. (NYSE:NOC) Short Interest Update

Northrop Grumman Co. (NYSE:NOC) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 2,040,000 shares, a growth of 25.2% from the November 30th total of 1,630,000 shares. Based on an average daily volume of 730,100 shares, the short-interest ratio is currently 2.8 days. Currently, 1.4% of the shares of the company are short sold.

Northrop Grumman Price Performance

NYSE NOC traded down $0.88 on Friday, hitting $471.35. 376,016 shares of the company’s stock were exchanged, compared to its average volume of 854,499. The stock has a 50-day moving average of $495.05 and a 200-day moving average of $490.64. The stock has a market cap of $68.67 billion, a price-to-earnings ratio of 29.20, a P/E/G ratio of 0.97 and a beta of 0.33. Northrop Grumman has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping the consensus estimate of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. Northrop Grumman’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $6.18 EPS. Analysts expect that Northrop Grumman will post 25.93 earnings per share for the current year.

Northrop Grumman announced that its Board of Directors has authorized a share repurchase program on Wednesday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is 51.05%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now directly owns 537 shares in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 1,255 shares of company stock worth $666,461. Insiders own 0.22% of the company’s stock.

Institutional Trading of Northrop Grumman

Hedge funds have recently made changes to their positions in the company. Ascent Group LLC lifted its holdings in shares of Northrop Grumman by 0.5% during the second quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock worth $1,891,000 after purchasing an additional 20 shares during the period. Cornell Pochily Investment Advisors Inc. grew its position in shares of Northrop Grumman by 0.9% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock valued at $1,131,000 after buying an additional 20 shares during the last quarter. Asset Dedication LLC increased its stake in shares of Northrop Grumman by 1.0% in the third quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after buying an additional 20 shares during the period. Foundations Investment Advisors LLC raised its position in shares of Northrop Grumman by 1.4% during the third quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after acquiring an additional 20 shares during the last quarter. Finally, PBMares Wealth Management LLC lifted its stake in shares of Northrop Grumman by 0.5% in the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after acquiring an additional 20 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOC has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. TD Cowen raised Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. UBS Group lifted their price target on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Citigroup upped their price objective on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Barclays lifted their target price on Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Northrop Grumman currently has an average rating of “Hold” and a consensus price target of $553.27.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.