Northrop to Spend Another $4B on Stock Buyback Plan

Northrop to Spend Another $4B on Stock Buyback Plan photo Northrop to Spend Another $4B on Stock Buyback Plan

Northrop Grumman Corporation (NYSE:NOC) had a weak trading session and its shares were last down at $170.31, down -0.02% or -0.01 points.



On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Corp VP & Pres Tech Svcs) of Northrop Grumman Corp /De/, Jones Christopher T had sold 2,000 shares worth of $337,120 in a transaction dated September 9, 2015. Investors of record on Monday, August 31st will be paid a dividend of $0.80 per share. The 52-week high of the share price is $176.83 and the 52-week low is $118.2401.

Northrop Grumman has been repurchasing shares at a brisk pace and its shareholders have every reason to be happy, as it means that net earnings will be shared over fewer shares.

Northrop Grumman has begun to implement a fresh optical projection system in the company’s assembly line for the F-35 Lightning II aircraft. The stock witnessed a net inflow of $2.06 million at the end of the block trade. Around 2% of the company’s shares, which are float, are short sold.

Shares of Northrop Grumman Corporation appreciated by 2.83% during the last five trading days but lost 1.67% on a 4-week basis. Northrop Grumman’s revenue for the quarter was down 2.4% compared to the same quarter previous year . The stock’s 50 day moving average is $169.08 and its 200 day moving average is $163.21. Finally, JPMorgan Chase & Co. started coverage on shares of Northrop Grumman in a research note on Tuesday, July 14th.

There are now twenty analysts that cover Northrop Grumman Corp stock.

Of total 20 analysts on Bloomberg, seven rated a Buy, 11 assigned a Hold and two suggested a Sell. Cowen and Company reissued a “neutral” rating and issued a $175.00 price objective (up from $155.00) on shares of Northrop Grumman in a research report on Friday, July 31st. Northrop Grumman has an average rating of Hold and an average target price of $170.85. JP Morgan fixed their price target at $180. They set an “underweight” rating and a $180.00 price objective on the stock. On the date of report, the stock closed at $164.57. RBC Capital upped their target price on shares of Northrop Grumman from $178.00 to $189.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th.

Another research firm was Deutsche Bank who reiterated their Buy stance on July 10. This translates to a 6.61% upside from the last closing price.

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