Northrop Grumman (NYSE:NOC) Issues FY 2024 Earnings Guidance

Northrop Grumman (NYSE:NOC) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 24.450-24.850 for the period, compared to the consensus EPS estimate of 24.650. The company issued revenue guidance of $40.8 billion-$41.2 billion, compared to the consensus revenue estimate of $41.1 billion.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of Northrop Grumman from $475.00 to $505.00 and gave the stock a neutral rating in a report on Friday. Susquehanna raised their price target on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a positive rating in a research report on Friday. StockNews.com upgraded shares of Northrop Grumman from a hold rating to a buy rating in a research report on Friday. Royal Bank of Canada raised their price target on shares of Northrop Grumman from $450.00 to $475.00 and gave the stock a sector perform rating in a research report on Friday. Finally, TheStreet downgraded shares of Northrop Grumman from a b+ rating to a c+ rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $503.00.

Northrop Grumman Stock Performance

Shares of NOC opened at $480.45 on Friday. The firm’s 50 day moving average is $462.59 and its 200-day moving average is $465.77. The stock has a market capitalization of $71.20 billion, a P/E ratio of 33.60, a P/E/G ratio of 1.93 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.05. Northrop Grumman has a 12-month low of $414.56 and a 12-month high of $496.89.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping the consensus estimate of $5.83 by $0.49. The business had revenue of $10.13 billion for the quarter, compared to the consensus estimate of $9.77 billion. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $5.50 earnings per share. Equities research analysts anticipate that Northrop Grumman will post 24.7 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were given a $1.87 dividend. This represents a $7.48 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, February 23rd. Northrop Grumman’s dividend payout ratio (DPR) is currently 52.31%.

Insider Transactions at Northrop Grumman

In other news, CAO Michael A. Hardesty sold 210 shares of Northrop Grumman stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the transaction, the chief accounting officer now directly owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Kathryn G. Simpson sold 711 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the completion of the sale, the vice president now directly owns 2,024 shares in the company, valued at $917,317.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Michael A. Hardesty sold 210 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total transaction of $95,482.80. Following the sale, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The disclosure for this sale can be found here. Insiders have sold a total of 3,149 shares of company stock valued at $1,421,147 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

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.