The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Northrop Grumman Corp. shares valued at $375,111 were sold by Caylor Mark A on Feb 21 ’24. At $454.68 per share, Caylor Mark A sold 825 shares. The insider’s holdings dropped to 16,432 shares worth approximately $8.02 million following the completion of this transaction.
Also, Simpson Kathryn G sold 356 shares, netting a total of over 161,866 in proceeds. Following the sale of shares at $454.68 each, the insider now holds 1,668 shares.
Before that, Hardesty Michael A had sold 210 shares from its account. In a trade valued at $95,483, the Corp VP, Controller & CAO traded Northrop Grumman Corp. shares for $454.68 each. Upon closing the transaction, the insider’s holdings decreased to 210 shares, worth approximately $1.53 million.
As published in a research note from Alembic Global Advisors on April 22, 2024, Northrop Grumman Corp. [NOC] has been rated up from a Neutral to an Overweight and the price target has been revised to $532. Analysts at Robert W. Baird downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid January. As of December 15, 2023, Deutsche Bank has decreased its “Buy” rating to a “Hold” for NOC. Earlier on December 14, 2023, Wolfe Research downgraded its rating. Their new recommendation was “an Underperform” for NOC stock which previously was a “a Peer perform”.
Analyzing NOC Stock Performance
During the last five days, there has been a surge of approximately 7.86%. Over the course of the year, Northrop Grumman Corp. shares have jumped approximately 4.26%. Shares of the company reached a 52-week high of $490.60 on 04/25/24 and a 52-week low of $426.00 on 01/25/24. A 50-day SMA is recorded $461.34, while a 200-day SMA reached $456.58. Nevertheless, trading volume fell to 1.34 million shares from 1.12 million shares the previous day.
Support And Resistance Levels for Northrop Grumman Corp. (NOC)
According to the 24-hour chart, there is a support level at 471.84, which, if violated, would cause prices to drop to 455.62. In the upper region, resistance lies at 497.44. The next price resistance is at 506.82. RSI (Relative Strength Index) is 72.83 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 17.68, which suggests the price will increase in the coming days. Percent R is at 5.72%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
