Northrop Grumman Co. (NOC) VP Sells $427,855.35 in Stock

Northrop Grumman Co. (NYSE:NOC) VP Shawn N. Purvis sold 1,565 shares of the stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $273.39, for a total transaction of $427,855.35. Following the sale, the vice president now owns 4,326 shares in the company, valued at $1,182,685.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NOC opened at $273.42 on Friday. Northrop Grumman Co. has a 1-year low of $251.66 and a 1-year high of $360.88. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.17 and a current ratio of 1.26. The company has a market capitalization of $45.33 billion, a PE ratio of 20.59, a P/E/G ratio of 0.98 and a beta of 0.67.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, October 24th. The aerospace company reported $6.54 EPS for the quarter, topping the consensus estimate of $4.35 by $2.19. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The business had revenue of $8.09 billion for the quarter, compared to the consensus estimate of $7.99 billion. During the same period last year, the company earned $3.67 EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. On average, analysts expect that Northrop Grumman Co. will post 19.06 earnings per share for the current year.

A number of large investors have recently bought and sold shares of NOC. Cornerstone Wealth Management LLC boosted its position in Northrop Grumman by 31,477.7% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 779,970 shares of the aerospace company’s stock worth $2,525,000 after buying an additional 777,500 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Northrop Grumman by 15.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,716,917 shares of the aerospace company’s stock worth $1,497,008,000 after buying an additional 614,356 shares during the period. Point72 Asset Management L.P. boosted its position in Northrop Grumman by 1,187.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 439,175 shares of the aerospace company’s stock worth $135,134,000 after buying an additional 405,075 shares during the period. Millennium Management LLC boosted its position in Northrop Grumman by 153.0% during the 2nd quarter. Millennium Management LLC now owns 600,981 shares of the aerospace company’s stock worth $184,922,000 after buying an additional 363,407 shares during the period. Finally, Winslow Capital Management LLC boosted its position in Northrop Grumman by 26.9% during the 2nd quarter. Winslow Capital Management LLC now owns 942,269 shares of the aerospace company’s stock worth $289,936,000 after buying an additional 200,026 shares during the period. Institutional investors and hedge funds own 81.69% of the company’s stock.

A number of brokerages have issued reports on NOC. Stifel Nicolaus reiterated a “hold” rating and set a $300.00 price objective on shares of Northrop Grumman in a research note on Thursday, July 26th. Goldman Sachs Group reduced their price objective on shares of Northrop Grumman to $414.00 and set a “conviction-buy” rating on the stock in a research note on Thursday, July 26th. Credit Suisse Group reduced their price target on shares of Northrop Grumman from $341.00 to $326.00 and set a “neutral” rating on the stock in a research note on Friday, July 27th. Buckingham Research upgraded shares of Northrop Grumman from a “neutral” rating to a “buy” rating and raised their price target for the company from $246.00 to $371.00 in a research note on Tuesday, July 31st. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of Northrop Grumman from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $357.18.

Northrop Grumman Company Profile

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.

See Also: Earnings Per Share (EPS)

Insider Buying and Selling by Quarter for Northrop Grumman (NYSE:NOC)

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