Northrop Grumman (NOC) Set to Announce Earnings on Thursday

Northrop Grumman (NYSE:NOC) is scheduled to post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Northrop Grumman to post earnings of $5.81 per share for the quarter. Northrop Grumman has set its FY24 guidance at $24.45-24.85 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $6.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.47. Northrop Grumman had a return on equity of 23.07% and a net margin of 5.23%. The company had revenue of $10.64 billion for the quarter, compared to analysts’ expectations of $10.43 billion. During the same period in the previous year, the firm posted $7.50 EPS. Northrop Grumman’s revenue was up 6.0% compared to the same quarter last year. On average, analysts expect Northrop Grumman to post $25 EPS for the current fiscal year and $28 EPS for the next fiscal year.

Northrop Grumman Trading Up 0.3 %

NOC stock opened at $451.82 on Thursday. The company has a current ratio of 1.15, a quick ratio of 1.05 and a debt-to-equity ratio of 0.93. Northrop Grumman has a 12-month low of $414.56 and a 12-month high of $496.89. The stock has a market cap of $66.96 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 1.81 and a beta of 0.35. The business’s 50-day moving average is $459.54 and its 200 day moving average is $464.20.

Northrop Grumman Announces Dividend

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. This represents a $7.48 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Friday, February 23rd. Northrop Grumman’s payout ratio is 55.49%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. TheStreet cut Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. Susquehanna decreased their target price on shares of Northrop Grumman from $560.00 to $540.00 and set a “positive” rating on the stock in a research note on Friday, January 26th. Robert W. Baird decreased their target price on shares of Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating on the stock in a research note on Friday, January 26th. StockNews.com lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $450.00 target price (down from $515.00) on shares of Northrop Grumman in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $494.33.

Insider Activity

In other news, CAO Michael A. Hardesty sold 955 shares of Northrop Grumman stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $430,103.35. Following the sale, the chief accounting officer now owns 4,137 shares of the company’s stock, valued at approximately $1,863,180.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Northrop Grumman news, VP Kathryn G. Simpson sold 1,273 shares of the business’s stock in a transaction that occurred 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 owns 2,735 shares of the company’s stock, valued at $1,231,761.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Michael A. Hardesty sold 955 shares of the business’s stock in a transaction that occurred 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 directly owns 4,137 shares in the company, valued at approximately $1,863,180.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,149 shares of company stock valued at $1,421,147. 0.22% of the stock is currently owned by company insiders.

Institutional Trading of Northrop Grumman

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOC. Moneta Group Investment Advisors LLC raised its position in Northrop Grumman by 70,532.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 637,105 shares of the aerospace company’s stock valued at $347,611,000 after purchasing an additional 636,203 shares during the period. Price T Rowe Associates Inc. MD raised its position in Northrop Grumman by 30.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,567,612 shares of the aerospace company’s stock valued at $723,799,000 after purchasing an additional 362,449 shares during the period. Imprint Wealth LLC raised its position in Northrop Grumman by 43,351.8% in the second quarter. Imprint Wealth LLC now owns 223,342 shares of the aerospace company’s stock valued at $22,334,000 after purchasing an additional 222,828 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Northrop Grumman by 870.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 214,960 shares of the aerospace company’s stock valued at $100,631,000 after purchasing an additional 192,799 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of Northrop Grumman by 67.6% in the first quarter. Deutsche Bank AG now owns 462,745 shares of the aerospace company’s stock worth $213,659,000 after acquiring an additional 186,599 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

About Northrop Grumman

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.