Mark A. Welsh III, a director at Northrop Grumman Corp (NYSE:NOC), has sold shares of the company's common stock totaling $15,072. The aerospace and defense giant, currently valued at $66.4 billion, has maintained its position as a prominent industry player with relatively low price volatility. The transactions took place on January 6, 2025, with sale prices ranging from $454.26 to $463.99 per share. Following these transactions, Welsh holds 4,139 shares in the company. The sales were conducted under a prearranged trading plan. According to InvestingPro analysis, the stock is currently trading near its Fair Value, with technical indicators suggesting oversold conditions. Discover more insights and 10+ additional ProTips for NOC in the comprehensive Pro Research Report.
In other recent news, Northrop Grumman has achieved several key milestones in the defense and aerospace sector. The company completed the assembly and testing of the PTS-P payload, a significant step in advancing satellite communication technologies for national defense. The company also successfully conducted a series of tests for a new solid rocket motor, enhancing the U.S. Navy's extended-range capabilities.
Additionally, Northrop Grumman has expanded its stock buyback program by $3 billion, raising the total authorized amount for stock buybacks to approximately $4.2 billion. The company was also chosen to supply the U.S. Navy with a new E-130J aircraft, replacing the older E-6B Mercury fleet. Furthermore, Northrop Grumman achieved Initial Operational Capability for the first battery of Poland's WISŁA medium-range air defense program, featuring the company's Integrated Battle Command System.
The company's fourth quarter and full-year 2024 financial results are set to release on January 30, 2025, with analysts forecasting EPS of $26.29 for FY2024. Following these developments, firms such as Jefferies, Susquehanna, and UBS have revised their outlooks on Northrop Grumman's shares positively. These are the recent developments in the company's operations.
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