Insider Selling: Northrop Grumman Co. (NYSE:NOC) VP Sells $616,067.08 in Stock

Northrop Grumman Co. (NYSE:NOC) VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Northrop Grumman Price Performance

NYSE NOC opened at $493.88 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The firm’s 50 day moving average price is $523.70 and its 200-day moving average price is $486.13. Northrop Grumman Co. has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a market cap of $71.96 billion, a PE ratio of 30.60, a P/E/G ratio of 1.05 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter in the prior year, the company posted $6.18 earnings per share. Northrop Grumman’s revenue for the quarter was up 2.3% compared to the same quarter last year. Sell-side analysts forecast that Northrop Grumman Co. will post 25.95 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were given a dividend of $2.06 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.67%. Northrop Grumman’s payout ratio is 51.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Citigroup upped their price target on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Wells Fargo & Company upped their price target on shares of Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, Barclays upped their price target on shares of Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Northrop Grumman presently has a consensus rating of “Hold” and a consensus target price of $550.56.

Institutional Investors Weigh In On Northrop Grumman

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ascent Group LLC lifted its position in Northrop Grumman by 0.5% during the second quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock valued at $1,891,000 after acquiring an additional 20 shares during the last quarter. Cornell Pochily Investment Advisors Inc. raised its holdings in shares of Northrop Grumman by 0.9% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock worth $1,131,000 after buying an additional 20 shares during the last quarter. Asset Dedication LLC raised its holdings 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 worth $1,069,000 after buying an additional 20 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of Northrop Grumman by 1.4% in the third quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after buying an additional 20 shares during the last quarter. Finally, PBMares Wealth Management LLC raised its holdings 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 buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

About Northrop Grumman

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.