Northrop Grumman Corporation (NYSE:NOC) Announces Earnings Results, Beats Expectations By $0.31 EPS

Northrop Grumman Corporation (NYSE:NOC) issued its quarterly earnings results on Wednesday. The aerospace company reported $3.15 EPS for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.31, Morningstar.com reports. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.21 billion. Northrop Grumman Corporation had a return on equity of 38.20% and a net margin of 9.20%. Northrop Grumman Corporation’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $2.85 earnings per share.

Shares of Northrop Grumman Corporation (NOC) traded down 0.28% during mid-day trading on Wednesday, hitting $263.30. The company’s stock had a trading volume of 640,587 shares. The stock’s 50 day moving average price is $259.67 and its 200 day moving average price is $246.18. The company has a market cap of $45.96 billion, a price-to-earnings ratio of 20.60 and a beta of 0.67. Northrop Grumman Corporation has a 52-week low of $206.69 and a 52-week high of $266.74.

In other news, CEO Wesley G. Bush sold 33,976 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $244.74, for a total value of $8,315,286.24. Following the transaction, the chief executive officer now directly owns 1 shares in the company, valued at approximately $244.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Sid Ashworth sold 3,847 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $260.00, for a total value of $1,000,220.00. Following the completion of the transaction, the vice president now owns 69,458 shares in the company, valued at $18,059,080. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,563 shares of company stock worth $16,750,506. Company insiders own 0.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its position in shares of Northrop Grumman Corporation by 0.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 837 shares of the aerospace company’s stock worth $199,000 after buying an additional 3 shares in the last quarter. Concert Wealth Management Inc. boosted its position in shares of Northrop Grumman Corporation by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 1,083 shares of the aerospace company’s stock worth $252,000 after buying an additional 8 shares in the last quarter. Dubuque Bank & Trust Co. boosted its position in shares of Northrop Grumman Corporation by 1.8% in the first quarter. Dubuque Bank & Trust Co. now owns 501 shares of the aerospace company’s stock worth $119,000 after buying an additional 9 shares in the last quarter. Argent Trust Co boosted its position in shares of Northrop Grumman Corporation by 0.7% in the first quarter. Argent Trust Co now owns 1,691 shares of the aerospace company’s stock worth $401,000 after buying an additional 11 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its position in shares of Northrop Grumman Corporation by 0.4% in the first quarter. Wetherby Asset Management Inc. now owns 3,107 shares of the aerospace company’s stock worth $739,000 after buying an additional 12 shares in the last quarter. 81.80% of the stock is currently owned by institutional investors.

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A number of analysts recently commented on NOC shares. Jefferies Group LLC reiterated a “hold” rating and set a $243.00 price target on shares of Northrop Grumman Corporation in a report on Wednesday, June 21st. Zacks Investment Research upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $270.00 price target on the stock in a report on Thursday, April 13th. Vertical Research upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating and lifted their price target for the stock from $254.00 to $270.00 in a report on Wednesday, May 10th. Finally, Cowen and Company reiterated a “hold” rating and set a $275.00 price target on shares of Northrop Grumman Corporation in a report on Monday, July 17th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $253.64.

Northrop Grumman Corporation Company Profile

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

Earnings History for Northrop Grumman Corporation (NYSE:NOC)

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