Northrop Grumman Co. (NYSE:NOC) – Investment analysts at Jefferies Financial Group boosted their Q2 2018 EPS estimates for shares of Northrop Grumman in a research report issued to clients and investors on Thursday, June 21st. Jefferies Financial Group analyst S. Kahyaoglu now anticipates that the aerospace company will post earnings of $3.88 per share for the quarter, up from their prior forecast of $3.70.
Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, April 25th. The aerospace company reported $4.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.63 by $0.58. Northrop Grumman had a net margin of 8.05% and a return on equity of 35.83%. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the prior year, the business earned $3.63 earnings per share. Northrop Grumman’s revenue for the quarter was up 7.5% on a year-over-year basis.
Several other research firms have also commented on NOC. Citigroup reiterated a “buy” rating and set a $405.00 price objective on shares of Northrop Grumman in a research report on Monday, March 12th. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $386.00 price objective for the company in a research report on Thursday, March 29th. Morgan Stanley increased their price objective on shares of Northrop Grumman from $365.00 to $378.00 and gave the company an “equal weight” rating in a research report on Thursday, April 12th. Barclays began coverage on shares of Northrop Grumman in a research report on Thursday, March 29th. They set an “overweight” rating and a $400.00 price objective for the company. Finally, ValuEngine upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $363.88.
Northrop Grumman opened at $309.34 on Monday, Marketbeat Ratings reports. Northrop Grumman has a 52 week low of $252.82 and a 52 week high of $360.88. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.52 and a quick ratio of 2.45. The firm has a market cap of $54.42 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 1.95 and a beta of 0.76.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 20th. Stockholders of record on Monday, June 4th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, June 1st. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.10. Northrop Grumman’s dividend payout ratio (DPR) is 36.14%.
In other news, VP Janis G. Pamiljans sold 955 shares of the firm’s stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $338.85, for a total value of $323,601.75. Following the completion of the sale, the vice president now owns 10,466 shares in the company, valued at approximately $3,546,404.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Icon Wealth Partners LLC bought a new stake in shares of Northrop Grumman in the 4th quarter worth about $100,000. Truewealth LLC purchased a new position in Northrop Grumman in the 4th quarter worth about $110,000. Centaurus Financial Inc. purchased a new position in Northrop Grumman in the 1st quarter worth about $147,000. Optimum Investment Advisors purchased a new position in Northrop Grumman in the 1st quarter worth about $154,000. Finally, We Are One Seven LLC purchased a new position in Northrop Grumman in the 4th quarter worth about $166,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.
About Northrop Grumman
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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