Short Interest in Northrop Grumman Co. (NYSE:NOC) Rises By 20.0%
Northrop Grumman Co. (NYSE:NOC) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 2,025,200 shares, an increase of 20.0% from the May 30th total of 1,687,800 shares. Currently, 1.2% of the company’s shares are sold short. Based on an average trading volume of 867,500 shares, the short-interest ratio is presently 2.3 days.
In related news, Director Madeleine Kleiner sold 971 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $315.16, for a total value of $306,020.36. Following the transaction, the director now owns 16,675 shares in the company, valued at $5,255,293. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Wesley G. Bush sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $291.59, for a total value of $14,579,500.00. Following the completion of the transaction, the chairman now owns 46,275 shares in the company, valued at approximately $13,493,327.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,903 shares of company stock worth $15,484,440. 0.45% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Patten Group Inc. boosted its stake in Northrop Grumman by 1.2% in the 2nd quarter. Patten Group Inc. now owns 2,522 shares of the aerospace company’s stock valued at $815,000 after purchasing an additional 31 shares during the period. SVA Plumb Wealth Management LLC lifted its position in shares of Northrop Grumman by 2.5% during the 1st quarter. SVA Plumb Wealth Management LLC now owns 1,433 shares of the aerospace company’s stock valued at $386,000 after acquiring an additional 35 shares during the period. WealthPLAN Partners LLC lifted its position in shares of Northrop Grumman by 4.8% during the 1st quarter. WealthPLAN Partners LLC now owns 828 shares of the aerospace company’s stock valued at $244,000 after acquiring an additional 38 shares during the period. First Personal Financial Services lifted its position in shares of Northrop Grumman by 6.5% during the 1st quarter. First Personal Financial Services now owns 658 shares of the aerospace company’s stock valued at $177,000 after acquiring an additional 40 shares during the period. Finally, Princeton Global Asset Management LLC lifted its position in shares of Northrop Grumman by 1.5% during the 1st quarter. Princeton Global Asset Management LLC now owns 2,735 shares of the aerospace company’s stock valued at $737,000 after acquiring an additional 40 shares during the period. Institutional investors own 83.20% of the company’s stock.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $5.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.59 by $0.47. Northrop Grumman had a return on equity of 41.42% and a net margin of 9.67%. The firm had revenue of $8.19 billion for the quarter, compared to analyst estimates of $8.34 billion. During the same quarter in the previous year, the firm earned $4.21 EPS. The business’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, equities research analysts forecast that Northrop Grumman will post 19.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Monday, June 3rd were paid a dividend of $1.32 per share. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.20. This represents a $5.28 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Friday, May 31st. Northrop Grumman’s payout ratio is currently 24.75%.
NOC has been the topic of a number of recent analyst reports. Barclays restated a “buy” rating on shares of Netflix in a report on Thursday, May 16th. Morgan Stanley set a $18.00 price target on PG&E and gave the stock a “hold” rating in a research report on Friday, June 14th. ValuEngine raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. UBS Group raised their price target on Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 30th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $338.24.
Northrop Grumman Company Profile
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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