Northrop Grumman (NYSE:NOC) Releases FY24 Earnings Guidance

Northrop Grumman (NYSE:NOC) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $25.65-26.05 for the period, compared to the consensus estimate of $25.22. The company issued revenue guidance of $41.0-41.4 billion, compared to the consensus revenue estimate of $41.38 billion. Northrop Grumman also updated its FY 2024 guidance to 25.650-26.050 EPS.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NOC shares. Wells Fargo & Company raised their target price on Northrop Grumman from $467.00 to $509.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Citigroup raised their price objective on shares of Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and upped their target price for the company from $474.00 to $575.00 in a report on Monday, July 29th. BTIG Research assumed coverage on shares of Northrop Grumman in a research note on Wednesday, June 26th. They set a “buy” rating and a $565.00 price target on the stock. Finally, TD Cowen upgraded Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $535.00.

Northrop Grumman Stock Down 0.7 %

NYSE:NOC opened at $516.40 on Thursday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. The stock has a market capitalization of $76.42 billion, a P/E ratio of 36.11, a P/E/G ratio of 2.44 and a beta of 0.34. Northrop Grumman has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The company’s 50-day simple moving average is $522.88 and its 200-day simple moving average is $480.30.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. Northrop Grumman’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $6.18 earnings per share. On average, equities analysts anticipate that Northrop Grumman will post 25.16 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were paid a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.60%. Northrop Grumman’s payout ratio is currently 57.62%.

Insider Activity

In related news, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the transaction, the vice president now owns 6,755 shares in the company, valued at $3,225,917.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at $3,225,917.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,879 shares of company stock valued at $1,410,703. Company insiders own 0.22% of the company’s stock.

Northrop Grumman Company Profile

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.