Seaport Res Ptn Weighs in on Northrop Grumman Co.’s Q3 2022 Earnings (NYSE:NOC)

Northrop Grumman Co. (NYSE:NOCGet Rating) – Analysts at Seaport Res Ptn dropped their Q3 2022 earnings per share (EPS) estimates for Northrop Grumman in a research note issued to investors on Sunday, June 5th. Seaport Res Ptn analyst R. Safran now forecasts that the aerospace company will post earnings per share of $6.25 for the quarter, down from their prior estimate of $6.34. Seaport Res Ptn currently has a “Buy” rating on the stock. Seaport Res Ptn also issued estimates for Northrop Grumman’s Q1 2023 earnings at $6.62 EPS, Q2 2023 earnings at $6.90 EPS and Q3 2023 earnings at $7.08 EPS.

Several other brokerages also recently issued reports on NOC. UBS Group boosted their price objective on Northrop Grumman from $410.00 to $450.00 in a research report on Friday, April 29th. Wells Fargo & Company upped their price target on shares of Northrop Grumman from $390.00 to $472.00 and gave the stock an “equal weight” rating in a research note on Monday, March 7th. Argus upped their price objective on shares of Northrop Grumman from $420.00 to $495.00 in a report on Thursday, May 12th. Morgan Stanley increased their price target on shares of Northrop Grumman from $428.00 to $521.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 2nd. Finally, StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Tuesday, May 17th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $438.18.

Shares of Northrop Grumman stock opened at $492.06 on Wednesday. The business’s fifty day moving average price is $458.63 and its 200 day moving average price is $419.23. The stock has a market capitalization of $76.49 billion, a P/E ratio of 13.56, a PEG ratio of 3.17 and a beta of 0.71. Northrop Grumman has a twelve month low of $344.89 and a twelve month high of $492.30. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.97.

Northrop Grumman (NYSE:NOCGet Rating) last released its quarterly earnings data on Thursday, April 28th. The aerospace company reported $6.10 EPS for the quarter, beating analysts’ consensus estimates of $5.95 by $0.15. Northrop Grumman had a return on equity of 32.82% and a net margin of 16.33%. The business had revenue of $8.80 billion for the quarter, compared to the consensus estimate of $8.89 billion. During the same quarter in the prior year, the business posted $6.57 EPS. The business’s revenue for the quarter was down 3.9% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st will be issued a dividend of $1.73 per share. The ex-dividend date of this dividend is Friday, May 27th. This represents a $6.92 dividend on an annualized basis and a dividend yield of 1.41%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.57. Northrop Grumman’s payout ratio is presently 19.07%.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Northrop Grumman by 0.4% in the 1st quarter. BlackRock Inc. now owns 8,661,928 shares of the aerospace company’s stock valued at $3,873,788,000 after buying an additional 30,408 shares during the period. Sanders Capital LLC boosted its stake in shares of Northrop Grumman by 21.9% in the first quarter. Sanders Capital LLC now owns 3,325,460 shares of the aerospace company’s stock valued at $1,506,692,000 after buying an additional 596,760 shares during the period. Bank of America Corp DE lifted its stake in shares of Northrop Grumman by 1.6% in the 1st quarter. Bank of America Corp DE now owns 3,087,731 shares of the aerospace company’s stock valued at $1,380,895,000 after acquiring an additional 49,004 shares during the last quarter. Morgan Stanley grew its holdings in Northrop Grumman by 7.4% during the 3rd quarter. Morgan Stanley now owns 1,854,151 shares of the aerospace company’s stock worth $667,772,000 after acquiring an additional 128,163 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Northrop Grumman by 7.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,429,009 shares of the aerospace company’s stock valued at $514,655,000 after buying an additional 99,024 shares during the period. Institutional investors and hedge funds own 84.52% of the company’s stock.

About Northrop Grumman (Get Rating)

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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.

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