$8.55 Billion in Sales Expected for Northrop Grumman Co. (NYSE:NOC) This Quarter

Analysts expect that Northrop Grumman Co. (NYSE:NOC) will announce $8.55 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Northrop Grumman’s earnings, with estimates ranging from $8.44 billion to $8.63 billion. Northrop Grumman reported sales of $8.09 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The business is expected to report its next quarterly earnings results on Wednesday, October 23rd.

On average, analysts expect that Northrop Grumman will report full-year sales of $34.01 billion for the current financial year, with estimates ranging from $33.92 billion to $34.08 billion. For the next financial year, analysts expect that the company will post sales of $36.03 billion, with estimates ranging from $35.76 billion to $36.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Northrop Grumman.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $5.06 EPS for the quarter, beating the Zacks’ consensus estimate of $4.64 by $0.42. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.41 billion. During the same period in the prior year, the business posted $4.50 EPS. The firm’s revenue was up 18.8% compared to the same quarter last year.

A number of research firms recently commented on NOC. Barclays upped their price target on shares of Northrop Grumman from $325.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Morgan Stanley upgraded shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $335.00 to $418.00 in a report on Tuesday, August 6th. Sanford C. Bernstein upped their price objective on shares of Northrop Grumman from $344.00 to $368.00 in a report on Thursday, July 25th. ValuEngine upgraded shares of Northrop Grumman from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Credit Suisse Group upped their price objective on shares of Northrop Grumman from $364.00 to $385.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Northrop Grumman currently has an average rating of “Buy” and an average target price of $345.93.

In other news, CEO Kathy J. Warden sold 6,837 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $353.46, for a total value of $2,416,606.02. Following the sale, the chief executive officer now directly owns 99,002 shares of the company’s stock, valued at approximately $34,993,246.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher T. Jones sold 5,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $353.19, for a total transaction of $1,765,950.00. Following the completion of the sale, the vice president now directly owns 67,422 shares in the company, valued at $23,812,776.18. The disclosure for this sale can be found here. Insiders sold a total of 14,740 shares of company stock worth $5,087,496 over the last ninety days. Insiders own 0.45% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Comerica Securities Inc. raised its holdings in shares of Northrop Grumman by 8.1% during the fourth quarter. Comerica Securities Inc. now owns 1,005 shares of the aerospace company’s stock worth $246,000 after acquiring an additional 75 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Northrop Grumman by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 541,267 shares of the aerospace company’s stock worth $132,552,000 after acquiring an additional 33,098 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Northrop Grumman by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 2,002,473 shares of the aerospace company’s stock worth $489,450,000 after acquiring an additional 56,098 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Northrop Grumman during the first quarter worth $28,000. Finally, First Manhattan Co. raised its holdings in shares of Northrop Grumman by 3.5% during the first quarter. First Manhattan Co. now owns 17,010 shares of the aerospace company’s stock worth $4,585,000 after acquiring an additional 582 shares in the last quarter. 83.71% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:NOC traded up $2.69 during midday trading on Tuesday, reaching $367.91. 827,300 shares of the stock traded hands, compared to its average volume of 1,037,315. The company has a fifty day moving average of $339.56 and a 200 day moving average of $302.60. Northrop Grumman has a 12 month low of $223.63 and a 12 month high of $377.34. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.15 and a current ratio of 1.25. The stock has a market capitalization of $61.79 billion, a P/E ratio of 17.25, a PEG ratio of 1.50 and a beta of 0.81.

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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