Northrop Grumman (NYSE:NOC) Releases Earnings Results

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

Northrop Grumman Stock Performance

NYSE NOC traded down $7.61 on Friday, reaching $480.45. The stock had a trading volume of 1,273,812 shares, compared to its average volume of 1,005,706. Northrop Grumman has a 12-month low of $414.56 and a 12-month high of $496.89. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.05 and a current ratio of 1.15. The business’s 50-day moving average price is $462.00 and its 200 day moving average price is $465.71. The stock has a market cap of $71.20 billion, a P/E ratio of 35.72, a price-to-earnings-growth ratio of 1.91 and a beta of 0.35.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were paid a $1.87 dividend. This represents a $7.48 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, February 23rd. Northrop Grumman’s dividend payout ratio is currently 55.49%.

Insider Transactions at Northrop Grumman

In related news, CAO Michael A. Hardesty sold 955 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $430,103.35. Following the transaction, the chief accounting officer now owns 4,137 shares of the company’s stock, valued at $1,863,180.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Kathryn G. Simpson sold 1,273 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $573,321.01. Following the sale, the vice president now directly owns 2,735 shares in the company, valued at $1,231,761.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael A. Hardesty sold 955 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the sale, the chief accounting officer now owns 4,137 shares in the company, valued at $1,863,180.69. The disclosure for this sale can be found here. Insiders sold 3,149 shares of company stock worth $1,421,147 over the last 90 days. 0.22% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Susquehanna raised their target price on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a research note on Friday. Royal Bank of Canada raised their target price on Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a research note on Friday. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price for the company in a research note on Monday. TheStreet cut Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. Finally, Robert W. Baird raised their target price on Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $503.00.

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.