Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Northrop Grumman Corporation shares valued at $1,907,810 were sold by CHESTON SHEILA C. on Aug 09. At $473.99 per share, CHESTON SHEILA C. sold 4,025 shares. The insider’s holdings dropped to 25,350 shares worth approximately $12.49 million following the completion of this transaction.
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Also, Wilson Thomas L Jr sold 582 shares, netting a total of over 280,524 in proceeds. Following the sale of shares at $482.00 each, the insider now holds 2,094 shares.
Before that, Warden Kathy J had sold 10,000 shares from its account. In a trade valued at $4,818,743, the Chair, CEO and President traded Northrop Grumman Corporation shares for $481.87 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $66.33 million.
As published in their initiating research note from RBC Capital Mkts on August 30, 2022, Northrop Grumman Corporation [NOC] has been a Sector perform and the price target has been revised to $550. This represents a 10.39% premium over Wednesday’s closing price. Analysts at Robert W. Baird upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in late July. As of January 11, 2022, Wolfe Research has decreased its “an Outperform” rating to a “Peer perform” for NOC. Earlier on January 10, 2022, Wells Fargo upgraded its rating. Their new recommendation was “an Equal weight” for NOC stock which previously was a “an Underweight”.
Analyzing NOC’s Price Performance
On Wednesday, Northrop Grumman Corporation [NYSE: NOC] plunged -0.23% to $492.87. The stock’s lowest price that day was $492.61, but it reached a high of $515.4899 in the same session. During the last five days, there has been a surge of approximately 1.65%. Over the course of the year, Northrop Grumman Corporation shares have jumped approximately 27.33%. Shares of the company reached a 52-week high of $515.49 on 09/21/22 and a 52-week low of $364.62 on 02/01/22. A 50-day SMA is recorded $476.16, while a 200-day SMA reached $441.84. Nevertheless, trading volume fell to 1.22 million shares from 0.88 million shares the previous day.
Support And Resistance Levels for Northrop Grumman Corporation (NOC)
According to the 24-hour chart, there is a support level at 485.16, which, if violated, would cause prices to drop to 477.44. In the upper region, resistance lies at 508.04. The next price resistance is at 523.20. RSI (Relative Strength Index) is 57.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.84, which suggests the price will increase in the coming days. Percent R is at 45.02%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Northrop Grumman Corporation subject to short interest?
Stocks of Northrop Grumman Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.2 million shares to 1.72 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.92 million shares. A decline of -11.63% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.2 of the overall float, the days-to-cover ratio (short ratio) decline to 2.2.
Which companies own the most shares of Northrop Grumman Corporation (NOC)?
According to SSgA Funds Management, Inc. filings, the company currently owns 14,243,422 shares, which is about 9.21% of the total NOC shares outstanding. The investor’s shares have plunged by -177,597 from its previous 13-F filing of 14421019.0 shares. With the completion of the sale transaction, Capital Research & Management Co’s stake is now worth $5,870,011,642. The Vanguard Group, Inc. acquire a 1.01% interest valued at $5.48 billion while Wellington Management Co. LLP sold a -701,186 stake. A total of 121,677 shares of Northrop Grumman Corporation were sold by BlackRock Fund Advisors during the quarter, and 349,916 were bought by Fidelity Management & Research Co. In its current portfolio, Massachusetts Financial Services holds 5,434,390 shares valued at $2.6 billion.
In terms of Northrop Grumman Corporation share price expectations, FactSet research, analysts set an average price target of $505.18 in the next 12 months, up nearly 3.24% from the previous closing price of $494.00. Analysts anticipate Northrop Grumman Corporation stock to reach $560.00 by 2022, with the lowest price target being $411.00. In spite of this, 19 analysts ranked Northrop Grumman Corporation stock as an Overweight at the end of 2022. On January 05, 2022, Jefferies assigned a price target of “a Hold” to the stock and downgraded coverage with a $410.