Northrop Grumman Stock Price, News & Analysis

Northrop Grumman Corporation (NYSE: NOC) has appointed Kimberly A. Ross and Mary A. Winston to its board of directors as of March 15, 2023. Kathy Warden, CEO and chair, expressed enthusiasm for their addition, highlighting their robust executive backgrounds and potential impact on the company’s growth strategy. Ross has held significant financial leadership roles at WeWork and Baker Hughes, while Winston has experience as a financial consultant and previously served as interim CEO of Bed Bath & Beyond. These appointments bring valuable governance expertise to Northrop Grumman, a leader in aerospace and defense technology.

On March 6, 2023, Northrop Grumman (NYSE: NOC) successfully performed its first full-scale static test fire of the Sentinel stage-one solid rocket motor at its Promontory facility. This test validates the design approach and performance parameters, or objectives, meeting expectations. According to Sarah Willoughby, Sentinel VP, advancements in digital engineering are pivotal for transitioning to hardware testing, reducing risk as the design matures. The Sentinel system modernizes the U.S. Air Force’s land-based ICBM capabilities, replacing the Minuteman III system. This program is expected to engage over 10,000 professionals nationwide.

The Northrop Grumman Corporation board of directors has declared a quarterly dividend of $1.73 per share on common stock, set to be paid on March 15, 2023. Shareholders on record as of the close of business on February 27, 2023 will be eligible for this dividend. Northrop Grumman operates as a major player in the global aerospace and defense sectors, providing advanced solutions that enhance security and exploration capabilities worldwide. The company employs approximately 95,000 individuals working towards innovative solutions for complex challenges.

Northrop Grumman (NYSE: NOC) will participate in Citi’s 2023 Global Industrial Tech and Mobility Conference on February 22, starting at 8:50 a.m. Eastern time. Kathy Warden, CEO and president, along with CFO Dave Keffer, will present at the event, which will be livestreamed on the company’s investor website. Northrop Grumman, a leader in aerospace and defense technology, focuses on providing innovative solutions that enhance global security and exploration efforts. The company emphasizes that statements made during the conference could involve forward-looking statements, which carry inherent risks and uncertainties.

Northrop Grumman Corporation (NOC) has priced a public offering of $2.0 billion in senior unsecured notes, including:

• $1.0 billion of 4.700% senior notes due 2033
• $1.0 billion of 4.950% senior notes due 2053

The proceeds will be used for general corporate purposes, encompassing debt repayment, share repurchases, and working capital. The offering is set to close on February 8, 2023. Forward-looking statements include potential risks related to market conditions and macroeconomic factors.

Northrop Grumman Corporation (NYSE: NOC) announced a $500 million accelerated share repurchase (ASR) agreement with Bank of America on February 2, 2023. This ASR will enhance shareholder value as part of their strategy to return over 100% of free cash flow to shareholders through dividends and share repurchases in 2023. Initial delivery of approximately 0.9 million shares is expected on February 6, based on a closing price of $440.86. The ASR completion is anticipated by the second quarter of 2023 and will utilize part of the $2.5 billion share repurchase authorization currently available.

Northrop Grumman Corporation (NYSE: NOC) will participate in Cowen’s 44th Annual Aerospace/Defense & Industrials Conference on February 15, 2023. Dave Keffer, the CFO, is set to present at 9:15 a.m. Eastern time. The presentation will be available via a live webcast.

Northrop Grumman is recognized as a leading global aerospace and defense technology firm, committed to equipping customers with vital capabilities. With a workforce of about 95,000 employees, the company emphasizes its mission to tackle significant challenges and drive innovation.

Investors should note that forward-looking statements made during the conference are subject to risks and uncertainties, and are not guarantees of future performance.

Northrop Grumman Corporation (NYSE: NOC) has appointed Stephen O’Bryan as corporate vice president and Global Business Development Officer, effective February 6, succeeding David Perry, who will retire on March 31. O’Bryan, previously with Boston Consulting Group and L3Harris Technologies, will focus on enhancing the company’s international growth strategies. CEO Kathy Warden praised O’Bryan for his extensive experience and leadership abilities, citing increasing global demand for Northrop Grumman’s solutions. Perry will assist during the transition period until his retirement.

Northrop Grumman Corporation (NYSE: NOC) has announced its fourth quarter and full-year 2022 financial results. The company is a prominent player in the aerospace and defense sector, employing 95,000 individuals dedicated to providing advanced solutions. The financial results were filed in a Form 8-K, accessible via the company's investor relations website. Additionally, Northrop Grumman will host a webcast of its earnings conference call today at 9 a.m. Eastern time, providing insights into its performance and outlook.