Northrop Grumman (NYSE:NOC) Announces Quarterly Earnings Results

Northrop Grumman (NYSE:NOC) posted its quarterly earnings data on Thursday. The aerospace company reported $6.32 earnings per share for the quarter, beating the consensus estimate of $5.83 by $0.49, Briefing.com reports. The business had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Northrop Grumman had a return on equity of 23.07% and a net margin of 5.23%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $5.50 EPS. Northrop Grumman updated its FY 2024 guidance to 24.450-24.850 EPS.

Northrop Grumman Stock Performance

NOC traded down $5.34 during mid-day trading on Friday, reaching $482.72. 778,291 shares of the company traded hands, compared to its average volume of 999,085. The stock has a market capitalization of $71.54 billion, a P/E ratio of 35.72, a P/E/G ratio of 1.91 and a beta of 0.35. The company has a quick ratio of 1.05, a current ratio of 1.15 and a debt-to-equity ratio of 0.93. The company’s fifty day moving average price is $462.00 and its 200-day moving average price is $465.71. Northrop Grumman has a 52-week low of $414.56 and a 52-week high of $496.89.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were issued a $1.87 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a yield of 1.55%. Northrop Grumman’s payout ratio is currently 55.49%.

Analyst Ratings Changes

Several research firms have weighed in on NOC. StockNews.com cut Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Alembic Global Advisors upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price for the company in a report on Monday. Robert W. Baird lifted their target price on shares of Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a report on Friday. TheStreet lowered shares of Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada lifted their target price on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $503.00.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Kathryn G. Simpson sold 1,273 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $573,321.01. Following the completion of the sale, the vice president now directly owns 2,735 shares in the company, valued at approximately $1,231,761.95. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Northrop Grumman news, VP Kathryn G. Simpson sold 711 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the completion of the sale, the vice president now directly owns 2,024 shares in the company, valued at approximately $917,317.28. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Kathryn G. Simpson sold 1,273 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $573,321.01. Following the sale, the vice president now directly owns 2,735 shares of the company’s stock, valued at approximately $1,231,761.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,149 shares of company stock worth $1,421,147. Insiders own 0.22% of the company’s stock.

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.