Q2 2024 Earnings Estimate for Northrop Grumman Co. (NYSE:NOC) Issued By Seaport Res Ptn

Northrop Grumman Co. (NYSE:NOC) – Investment analysts at Seaport Res Ptn dropped their Q2 2024 earnings per share estimates for Northrop Grumman in a report issued on Wednesday, July 17th. Seaport Res Ptn analyst R. Safran now anticipates that the aerospace company will post earnings of $5.94 per share for the quarter, down from their prior estimate of $6.02. The consensus estimate for Northrop Grumman’s current full-year earnings is $24.70 per share. Seaport Res Ptn also issued estimates for Northrop Grumman’s Q3 2024 earnings at $5.92 EPS, Q4 2024 earnings at $6.57 EPS and FY2024 earnings at $24.76 EPS.

A number of other equities analysts have also recently commented on the company. Royal Bank of Canada lifted their price target on Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. Robert W. Baird upped their target price on Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. BTIG Research initiated coverage on Northrop Grumman in a research report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price on the stock. Sanford C. Bernstein downgraded Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 target price on the stock. in a research report on Friday, June 21st. Finally, Wells Fargo & Company upped their target price on Northrop Grumman from $483.00 to $518.00 in a research report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Northrop Grumman has an average rating of “Hold” and a consensus price target of $510.36.

Northrop Grumman Trading Up 1.1 %

Northrop Grumman stock opened at $440.10 on Thursday. Northrop Grumman has a 52 week low of $414.56 and a 52 week high of $496.89. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. The stock has a market capitalization of $65.13 billion, a P/E ratio of 30.78, a PEG ratio of 2.03 and a beta of 0.33. The stock has a 50-day simple moving average of $444.64 and a 200 day simple moving average of $456.40.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The business had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter in the previous year, the business earned $5.50 earnings per share. Northrop Grumman’s quarterly revenue was up 8.9% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NOC. Raymond James Trust N.A. lifted its stake in shares of Northrop Grumman by 19.7% in the 4th quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock valued at $7,731,000 after acquiring an additional 2,723 shares during the last quarter. Ausdal Financial Partners Inc. raised its position in Northrop Grumman by 4.4% during the 4th quarter. Ausdal Financial Partners Inc. now owns 524 shares of the aerospace company’s stock worth $245,000 after purchasing an additional 22 shares during the last quarter. Shulman DeMeo Asset Management LLC raised its position in Northrop Grumman by 4.0% during the 4th quarter. Shulman DeMeo Asset Management LLC now owns 908 shares of the aerospace company’s stock worth $425,000 after purchasing an additional 35 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Northrop Grumman by 2.8% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 2,413 shares of the aerospace company’s stock worth $1,130,000 after purchasing an additional 65 shares during the last quarter. Finally, Talbot Financial LLC raised its position in Northrop Grumman by 3.2% during the 4th quarter. Talbot Financial LLC now owns 23,615 shares of the aerospace company’s stock worth $11,055,000 after purchasing an additional 737 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were paid a dividend of $2.06 per share. The ex-dividend date was Friday, May 24th. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. This represents a $8.24 annualized dividend and a yield of 1.87%. Northrop Grumman’s dividend payout ratio is presently 57.62%.

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.