Patrick M. Antkowiak Sells 1,932 Shares of Northrop Grumman Co. (NOC) Stock

Northrop Grumman Co. (NYSE:NOC) VP Patrick M. Antkowiak sold 1,932 shares of Northrop Grumman stock in a transaction on Monday, May 20th. The shares were sold at an average price of $310.00, for a total value of $598,920.00. Following the completion of the transaction, the vice president now owns 5,208 shares in the company, valued at approximately $1,614,480. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

NYSE NOC opened at $311.09 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.10 and a current ratio of 1.18. Northrop Grumman Co. has a twelve month low of $223.63 and a twelve month high of $340.14. The firm has a market cap of $53.70 billion, a P/E ratio of 14.58, a PEG ratio of 1.27 and a beta of 0.89.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $5.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.59 by $0.47. Northrop Grumman had a return on equity of 41.42% and a net margin of 9.67%. The company had revenue of $8.19 billion for the quarter, compared to the consensus estimate of $8.34 billion. During the same quarter last year, the business posted $4.21 EPS. Northrop Grumman’s revenue for the quarter was up 21.6% on a year-over-year basis. On average, analysts forecast that Northrop Grumman Co. will post 19.39 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Monday, June 3rd will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, May 31st. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.20. This represents a $5.28 annualized dividend and a yield of 1.70%. Northrop Grumman’s payout ratio is presently 22.50%.

NOC has been the topic of several recent analyst reports. Drexel Hamilton set a $335.00 price target on Northrop Grumman and gave the company a “buy” rating in a research note on Saturday, February 9th. Goldman Sachs Group downgraded Northrop Grumman from a “conviction-buy” rating to a “buy” rating in a report on Friday, February 1st. Bank of America reissued a “buy” rating and set a $355.00 price objective (down previously from $360.00) on shares of Northrop Grumman in a report on Friday, February 1st. Argus reissued a “buy” rating on shares of Northrop Grumman in a report on Friday, February 1st. Finally, Credit Suisse Group reissued a “buy” rating on shares of Northrop Grumman in a report on Thursday, January 31st. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $333.06.

A number of institutional investors and hedge funds have recently made changes to their positions in NOC. Millennium Management LLC lifted its holdings in Northrop Grumman by 198.8% during the 4th quarter. Millennium Management LLC now owns 568,441 shares of the aerospace company’s stock worth $139,211,000 after buying an additional 378,176 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Northrop Grumman by 7.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,072,281 shares of the aerospace company’s stock worth $1,242,203,000 after buying an additional 355,364 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Northrop Grumman by 5,821.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 263,566 shares of the aerospace company’s stock worth $64,547,000 after buying an additional 259,115 shares during the period. California Public Employees Retirement System lifted its holdings in Northrop Grumman by 44.3% during the 4th quarter. California Public Employees Retirement System now owns 820,741 shares of the aerospace company’s stock worth $200,999,000 after buying an additional 251,945 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Northrop Grumman during the 1st quarter worth about $50,253,000. 81.37% of the stock is currently owned by hedge funds and other institutional investors.

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About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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