Northrop Grumman Co. (NYSE:NOC) Expected to Earn Q3 2024 Earnings of $5.93 Per Share

Northrop Grumman Co. (NYSE:NOC) – Equities research analysts at Seaport Res Ptn lifted their Q3 2024 earnings estimates for Northrop Grumman in a research note issued on Tuesday, September 3rd. Seaport Res Ptn analyst R. Safran now forecasts that the aerospace company will earn $5.93 per share for the quarter, up from their previous forecast of $5.92. The consensus estimate for Northrop Grumman’s current full-year earnings is $25.15 per share.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, beating the consensus estimate of $5.93 by $0.43. The company had revenue of $10.22 billion for the quarter, compared to analyst estimates of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $5.34 earnings per share.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada increased their price objective on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Barclays increased their price objective on shares of Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein downgraded shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price target on the stock. in a research note on Friday, June 21st. StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and raised their price target for the company from $474.00 to $575.00 in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $523.20.

Northrop Grumman Price Performance

NYSE:NOC opened at $523.49 on Thursday. Northrop Grumman has a 52 week low of $414.56 and a 52 week high of $528.76. The firm has a market cap of $77.47 billion, a price-to-earnings ratio of 36.61, a P/E/G ratio of 2.40 and a beta of 0.32. The firm’s 50-day simple moving average is $475.08 and its 200 day simple moving average is $464.53. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11.

Northrop Grumman Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd will be paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is currently 57.62%.

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Thomas H. Jones sold 1,389 shares of Northrop Grumman stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the transaction, the vice president now owns 6,755 shares of the company’s stock, valued at $3,225,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at $2,317,000. The disclosure for this sale can be found here. Insiders sold a total of 2,813 shares of company stock worth $1,375,877 over the last three months. 0.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On Northrop Grumman

Several hedge funds and other institutional investors have recently bought and sold shares of NOC. Gulf International Bank UK Ltd increased its position in shares of Northrop Grumman by 1,402.9% during the first quarter. Gulf International Bank UK Ltd now owns 12,925 shares of the aerospace company’s stock worth $6,186,000 after acquiring an additional 12,065 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in shares of Northrop Grumman during the first quarter worth about $870,000. Norden Group LLC bought a new stake in shares of Northrop Grumman during the first quarter worth about $778,000. Fisher Asset Management LLC increased its position in shares of Northrop Grumman by 7,574.5% during the fourth quarter. Fisher Asset Management LLC now owns 123,637 shares of the aerospace company’s stock worth $57,879,000 after acquiring an additional 122,026 shares in the last quarter. Finally, Red Mountain Financial LLC bought a new stake in shares of Northrop Grumman during the fourth quarter worth about $264,000. 83.40% of the stock is owned by institutional investors.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.