Traders Sell Shares of Northrop Grumman Corporation (NOC) on Strength (NOC)

Traders sold shares of Northrop Grumman Corporation (NYSE:NOC) on strength during trading on Monday. $30.89 million flowed into the stock on the tick-up and $70.32 million flowed out of the stock on the tick-down, for a money net flow of $39.43 million out of the stock. Of all companies tracked, Northrop Grumman Corporation had the 10th highest net out-flow for the day. Northrop Grumman Corporation traded up $0.53 for the day and closed at $293.86

A number of brokerages have recently issued reports on NOC. Jefferies Group LLC reaffirmed a “hold” rating and set a $269.00 price target on shares of Northrop Grumman Corporation in a report on Friday, September 29th. Deutsche Bank AG reaffirmed a “buy” rating and set a $325.00 price target (up from $285.00) on shares of Northrop Grumman Corporation in a report on Monday, October 2nd. Zacks Investment Research downgraded Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Stifel Nicolaus reaffirmed a “hold” rating and set a $255.00 price target on shares of Northrop Grumman Corporation in a report on Thursday, September 21st. Finally, Vertical Research reaffirmed a “buy” rating and set a $296.00 price target (up from $280.00) on shares of Northrop Grumman Corporation in a report on Wednesday, September 20th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $276.72.

The firm’s 50-day moving average price is $275.79 and its 200-day moving average price is $259.43. The stock has a market cap of $51.16 billion, a P/E ratio of 22.45 and a beta of 0.68.

Northrop Grumman Corporation (NYSE:NOC) last posted its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.84 by $0.31. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.85 EPS. On average, analysts forecast that Northrop Grumman Corporation will post $12.55 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 28th were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, August 24th. This represents a $4.00 annualized dividend and a yield of 1.36%. Northrop Grumman Corporation’s payout ratio is presently 30.56%.

In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following the sale, the vice president now owns 961 shares in the company, valued at approximately $252,983.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Concert Wealth Management Inc. lifted its holdings in shares of Northrop Grumman Corporation by 0.7% in the 1st quarter. Concert Wealth Management Inc. now owns 1,083 shares of the aerospace company’s stock valued at $252,000 after buying an additional 8 shares during the period. Salem Investment Counselors Inc. lifted its holdings in shares of Northrop Grumman Corporation by 1.2% in the 2nd quarter. Salem Investment Counselors Inc. now owns 812 shares of the aerospace company’s stock valued at $208,000 after buying an additional 10 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Northrop Grumman Corporation by 0.8% in the 2nd quarter. Cetera Investment Advisers now owns 1,278 shares of the aerospace company’s stock valued at $328,000 after buying an additional 10 shares during the period. Bank of Stockton lifted its holdings in shares of Northrop Grumman Corporation by 0.9% in the 2nd quarter. Bank of Stockton now owns 1,294 shares of the aerospace company’s stock valued at $332,000 after buying an additional 12 shares during the period. Finally, Eqis Capital Management Inc. lifted its holdings in shares of Northrop Grumman Corporation by 1.0% in the 2nd quarter. Eqis Capital Management Inc. now owns 1,318 shares of the aerospace company’s stock valued at $338,000 after buying an additional 13 shares during the period. 81.37% of the stock is owned by institutional investors and hedge funds.

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About Northrop Grumman Corporation

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

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