Northrop Grumman Co. (NYSE:NOC) Short Interest Up 37.1% in May

Northrop Grumman Co. (NYSE:NOCGet Rating) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 2,070,000 shares, an increase of 37.1% from the May 15th total of 1,510,000 shares. Approximately 1.3% of the company’s stock are sold short. Based on an average daily volume of 862,500 shares, the short-interest ratio is presently 2.4 days.

Shares of NYSE:NOC traded down $6.92 during trading on Friday, hitting $442.10. The company’s stock had a trading volume of 16,615 shares, compared to its average volume of 817,472. The company has a 50-day moving average of $459.19 and a 200-day moving average of $423.69. Northrop Grumman has a 12 month low of $344.89 and a 12 month high of $492.30. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.31 and a quick ratio of 1.21. The firm has a market cap of $68.72 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 3.03 and a beta of 0.71.

Northrop Grumman (NYSE:NOCGet Rating) last released its earnings results on Thursday, April 28th. The aerospace company reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.95 by $0.15. The company had revenue of $8.80 billion during the quarter, compared to analyst estimates of $8.89 billion. Northrop Grumman had a net margin of 16.33% and a return on equity of 32.82%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.57 EPS. As a group, research analysts anticipate that Northrop Grumman will post 24.8 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were issued a $1.73 dividend. This represents a $6.92 annualized dividend and a yield of 1.57%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.57. The ex-dividend date was Friday, May 27th. Northrop Grumman’s dividend payout ratio is currently 19.07%.

Several equities analysts have issued reports on the stock. Seaport Res Ptn restated a “buy” rating on shares of Northrop Grumman in a research note on Tuesday, April 19th. Argus upped their target price on shares of Northrop Grumman from $420.00 to $495.00 in a research note on Thursday, May 12th. Morgan Stanley upped their target price on shares of Northrop Grumman from $428.00 to $521.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. Wells Fargo & Company upped their target price on shares of Northrop Grumman from $390.00 to $472.00 and gave the company an “equal weight” rating in a research note on Monday, March 7th. Finally, UBS Group upped their target price on shares of Northrop Grumman from $410.00 to $450.00 in a research note on Friday, April 29th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $442.80.

A number of institutional investors have recently added to or reduced their stakes in NOC. Dividend Assets Capital LLC lifted its holdings in shares of Northrop Grumman by 8.4% during the first quarter. Dividend Assets Capital LLC now owns 283 shares of the aerospace company’s stock worth $127,000 after purchasing an additional 22 shares during the period. IHT Wealth Management LLC lifted its holdings in shares of Northrop Grumman by 1.6% during the first quarter. IHT Wealth Management LLC now owns 1,371 shares of the aerospace company’s stock worth $613,000 after purchasing an additional 22 shares during the period. Cape ANN Savings Bank lifted its holdings in shares of Northrop Grumman by 0.8% during the first quarter. Cape ANN Savings Bank now owns 2,676 shares of the aerospace company’s stock worth $1,197,000 after purchasing an additional 22 shares during the period. GHP Investment Advisors Inc. lifted its holdings in shares of Northrop Grumman by 1.9% during the first quarter. GHP Investment Advisors Inc. now owns 1,291 shares of the aerospace company’s stock worth $577,000 after purchasing an additional 24 shares during the period. Finally, Aldebaran Financial Inc. lifted its holdings in shares of Northrop Grumman by 2.2% during the first quarter. Aldebaran Financial Inc. now owns 1,140 shares of the aerospace company’s stock worth $510,000 after purchasing an additional 25 shares during the period. 84.52% of the stock is owned by institutional investors.

Northrop Grumman Company Profile (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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