Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Northrop Grumman Corp. shares valued at $663,331 were purchased by Jones Thomas H on Jul 26 ’24. At $477.56 per share, Jones Thomas H acquired 1,389 shares.
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Also, Jones Thomas H sold 1,389 shares, netting a total of over 663,331 in proceeds. Following the sale of shares at $477.56 each, the insider now holds 6,755 shares.
Before that, Jones Thomas H had sold 1,389 shares from its account. In a trade valued at $640,232, the CVP & Pres Aeronautics Systems traded Northrop Grumman Corp. shares for $460.93 each. Upon closing the transaction, the insider’s holdings decreased to 1,389 shares, worth approximately $3.94 million.
As published in a research note from Deutsche Bank on July 29, 2024, Northrop Grumman Corp. [NOC] has been rated up from a Hold to a Buy and the price target has been revised to $575 from $474. Analysts at BTIG Research started covering the stock with ‘”a Buy”‘ outlook in a report released in late June. As of June 21, 2024, Bernstein has decreased its “an Outperform” rating to a “Mkt perform” for NOC. Earlier on April 22, 2024, Alembic Global Advisors upgraded its rating. Their new recommendation was “an Overweight” for NOC stock which previously was a “a Neutral”.
Analyzing NOC Stock Performance
During the last five days, there has been a surge of approximately 9.54%. Over the course of the year, Northrop Grumman Corp. shares have jumped approximately 3.46%. Shares of the company reached a 52-week high of $490.60 on 04/25/24 and a 52-week low of $418.60 on 06/14/24. A 50-day SMA is recorded $443.85, while a 200-day SMA reached $460.79. Nevertheless, trading volume fell to 1.45 million shares from 0.75 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 481.65, which, if violated, would cause prices to drop to 478.99. In the upper region, resistance lies at 488.18. The next price resistance is at 492.05. RSI (Relative Strength Index) is 76.66 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 30.01, which suggests the price will increase in the coming days. Percent R is at 8.68%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
