Northrop Grumman (NYSE:NOC) Sets New 12-Month High at $509.25
Northrop Grumman (NYSE:NOC) shares reached a new 12-month high of $XXX.25 during trading, closing at $XXX.79 with a volume of 11,120 shares. UBS increased its price target for the stock, and it currently has a consensus rating of "Hold" with a target price of $XXX.33. Analysts have noted a 6.7% year-over-year revenue increase, with an EPS of $XXX.36 reported last quarter. Recent insider transactions include VP Thomas H. Jones selling shares for a total of $XXX,000. Institutional investors have been active, reflecting increased interest in the stock.
Shares of Northrop Grumman Co. (NYSE:NOC - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $509.25 and last traded at $507.79, with a volume of 11120 shares changing hands. The stock had previously closed at $508.04.
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Wall Street Analyst Weigh In
- Defense Stocks Soar to New Highs; Higher Highs Are Coming
Several analysts recently issued reports on the stock. UBS Group boosted their price objective on shares of Northrop Grumman from $593.00 to $605.00 and gave the company a "buy" rating in a report on Friday, July 26th. Morgan Stanley boosted their target price on Northrop Grumman from $579.00 to $592.00 and gave the company an "overweight" rating in a research report on Friday, August 9th. Sanford C. Bernstein downgraded Northrop Grumman from an "outperform" rating to a "market perform" rating and set a $477.00 price objective on the stock. in a report on Friday, June 21st. Robert W. Baird boosted their price target on shares of Northrop Grumman from $475.00 to $505.00 and gave the stock a "neutral" rating in a research note on Friday, April 26th. Finally, TD Cowen upped their target price on shares of Northrop Grumman from $440.00 to $515.00 and gave the stock a "hold" rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $521.33.
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Northrop Grumman Stock Performance
- Aerospace Stock Fires Up a Solid EPS Beat and Raises Guidance
The stock has a 50 day simple moving average of $455.83 and a two-hundred day simple moving average of $459.48. The company has a market cap of $75.38 billion, a PE ratio of 35.53, a PEG ratio of 2.26 and a beta of 0.32. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99.
Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, topping analysts' consensus estimates of $5.93 by $0.43. The company had revenue of $10.22 billion during the quarter, compared to analysts' expectations of $10.02 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.34 earnings per share. Equities analysts predict that Northrop Grumman Co. will post 25.18 EPS for the current year.
Insider Transactions at Northrop Grumman
- Top 3 Defense Stocks That Should Be on Your Radar
In related news, VP Thomas H. Jones sold 1,390 shares of the company's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the transaction, the vice president now owns 4,634 shares of the company's stock, valued at $2,317,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Thomas H. Jones sold 1,390 shares of the firm's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the sale, the vice president now owns 4,634 shares in the company, valued at $2,317,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the transaction, the vice president now owns 6,755 shares in the company, valued at $3,225,917.80. The disclosure for this sale can be found here. Insiders own 0.22% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. SRS Capital Advisors Inc. lifted its stake in shares of Northrop Grumman by 960.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company's stock worth $25,000 after purchasing an additional 48 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Northrop Grumman in the 4th quarter valued at about $25,000. Optimum Investment Advisors lifted its holdings in Northrop Grumman by 241.2% during the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company's stock worth $25,000 after buying an additional 41 shares during the last quarter. Frazier Financial Advisors LLC acquired a new position in Northrop Grumman in the fourth quarter worth $29,000. Finally, Bank & Trust Co bought a new position in Northrop Grumman in the second quarter worth about $28,000. 83.40% of the stock is owned by institutional investors and hedge funds.
About Northrop Grumman
(Get Free Report)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.
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