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 $68,303 were purchased by Mark Welsh on Aug 29 ’24. At $513.56 per share, Mark Welsh acquired 133 shares.
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Also, Jones Thomas H sold 1,390 shares, netting a total of over 695,000 in proceeds. Following the sale of shares at $500.00 each, the insider now holds 4,634 shares.
Before that, Jones Thomas H had added 1,390 shares to its account. In a trade valued at $695,000, the Officer bought Northrop Grumman Corp. shares for $500.00 each.
As published in a research note from Alembic Global Advisors on August 27, 2024, Northrop Grumman Corp. [NOC] has been rated down from an Overweight to a Neutral and the price target has been revised to $560. Analysts at Deutsche Bank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late July. As of June 26, 2024, BTIG Research has initiated its “Buy” rating for NOC. Earlier on June 21, 2024, Bernstein downgraded its rating. Their new recommendation was “a Mkt perform” for NOC stock which previously was a “an Outperform”.
Analyzing NOC Stock Performance
During the last five days, there has been a surge of approximately 1.91%. Over the course of the year, Northrop Grumman Corp. shares have jumped approximately 10.94%. Shares of the company reached a 52-week high of $521.52 on 08/29/24 and a 52-week low of $418.60 on 06/14/24. A 50-day SMA is recorded $467.62, while a 200-day SMA reached $463.55. Nevertheless, trading volume fell to 0.43 million shares from 0.64 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 513.86, which, if violated, would cause prices to drop to 508.36. In the upper region, resistance lies at 523.18. The next price resistance is at 527.01. RSI (Relative Strength Index) is 81.01 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.87, which suggests the price will increase in the coming days. Percent R is at 7.35%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
