FY2024 EPS Forecast for Northrop Grumman Boosted by Analyst

Northrop Grumman Co. (NYSE:NOC) – Research analysts at Zacks Research upped their FY2024 EPS estimates for shares of Northrop Grumman in a research note issued to investors on Thursday, November 14th. Zacks Research analyst A. Dutta now anticipates that the aerospace company will earn $25.78 per share for the year, up from their previous estimate of $24.98. The consensus estimate for Northrop Grumman’s current full-year earnings is $25.93 per share. Zacks Research also issued estimates for Northrop Grumman’s Q1 2025 earnings at $6.43 EPS, FY2025 earnings at $27.46 EPS and FY2026 earnings at $29.42 EPS.

NOC has been the subject of several other research reports. JPMorgan Chase & Co. increased their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and upped their price target for the company from $474.00 to $575.00 in a research note on Monday, July 29th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Barclays raised their price target on shares of Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Citigroup boosted their price objective on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Northrop Grumman currently has a consensus rating of “Hold” and a consensus target price of $550.56.

Northrop Grumman Price Performance

Shares of NOC opened at $488.68 on Monday. The stock has a market cap of $71.20 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.00 and a beta of 0.35. The business’s fifty day moving average is $522.56 and its 200 day moving average is $486.29. Northrop Grumman has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. During the same period last year, the company posted $6.18 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were given a dividend of $2.06 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.69%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders sold 1,289 shares of company stock valued at $685,273. 0.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northrop Grumman

Large investors have recently modified their holdings of the stock. Optimum Investment Advisors increased its position in Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 41 shares during the last quarter. Bank & Trust Co purchased a new position in shares of Northrop Grumman during the second quarter valued at approximately $28,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Northrop Grumman during the third quarter valued at approximately $31,000. Meeder Asset Management Inc. grew its stake in shares of Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after buying an additional 54 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Northrop Grumman in the third quarter worth approximately $36,000. Institutional investors own 83.40% 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.