Northrop Grumman Co. (NYSE:NOC – Get Rating) – Equities researchers at Jefferies Financial Group cut their Q2 2022 earnings per share (EPS) estimates for Northrop Grumman in a research note issued to investors on Sunday, May 1st. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the aerospace company will earn $5.97 per share for the quarter, down from their previous forecast of $6.04. Jefferies Financial Group has a “Hold” rating and a $410.00 price target on the stock. Jefferies Financial Group also issued estimates for Northrop Grumman’s Q4 2022 earnings at $6.45 EPS, FY2022 earnings at $24.80 EPS, FY2023 earnings at $26.50 EPS and FY2024 earnings at $28.80 EPS.
Other equities research analysts also recently issued research reports about the stock. StockNews.com began coverage on shares of Northrop Grumman in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Wolfe Research downgraded shares of Northrop Grumman from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 11th. UBS Group increased their target price on shares of Northrop Grumman from $410.00 to $450.00 in a report on Friday. Seaport Res Ptn reaffirmed a “buy” rating on shares of Northrop Grumman in a report on Tuesday, April 19th. Finally, Susquehanna Bancshares increased their target price on shares of Northrop Grumman from $416.00 to $437.00 and gave the company a “positive” rating in a report on Friday, January 28th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Northrop Grumman has an average rating of “Buy” and a consensus target price of $436.36.
Northrop Grumman (NYSE:NOC – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The aerospace company reported $6.10 EPS for the quarter, beating the Zacks’ consensus estimate of $5.96 by $0.14. The firm had revenue of $8.80 billion during the quarter, compared to the consensus estimate of $8.89 billion. Northrop Grumman had a net margin of 16.33% and a return on equity of 32.82%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $6.57 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 16th. Stockholders of record on Monday, February 28th were paid a dividend of $1.57 per share. The ex-dividend date was Friday, February 25th. This represents a $6.28 dividend on an annualized basis and a dividend yield of 1.43%. Northrop Grumman’s dividend payout ratio (DPR) is 17.31%.
In other news, CAO Michael A. Hardesty sold 347 shares of the firm’s stock in a transaction that occurred on Monday, February 14th. The shares were sold at an average price of $397.00, for a total transaction of $137,759.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark A. Caylor sold 4,038 shares of Northrop Grumman stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $452.40, for a total transaction of $1,826,791.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,738 shares of company stock valued at $4,485,857. Corporate insiders own 0.26% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in NOC. Duncker Streett & Co. Inc. grew its stake in Northrop Grumman by 88.6% in the 4th quarter. Duncker Streett & Co. Inc. now owns 66 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 31 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $26,000. Rather & Kittrell Inc. acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $26,000. Concord Wealth Partners boosted its holdings in shares of Northrop Grumman by 261.9% in the 4th quarter. Concord Wealth Partners now owns 76 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 55 shares during the last quarter. Finally, Delos Wealth Advisors LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $31,000. 84.52% of the stock is owned by hedge funds and other institutional investors.
Northrop Grumman Company Profile (Get Rating)
Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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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