Northrop Grumman (NYSE:NOC) Price Target Lowered to $500.00 at Jefferies Financial Group

Northrop Grumman (NYSE:NOC) had its price target reduced by Jefferies Financial Group from $530.00 to $500.00 in a research note published on Tuesday morning. Jefferies Financial Group currently has a hold rating on the aerospace company’s stock.

A number of other analysts have also commented on the company. StockNews.com upgraded Northrop Grumman from a hold rating to a buy rating in a research report on Friday, April 26th. Robert W. Baird lifted their price objective on Northrop Grumman from $475.00 to $505.00 and gave the stock a neutral rating in a research report on Friday, April 26th. Royal Bank of Canada lifted their price objective on Northrop Grumman from $450.00 to $475.00 and gave the stock a sector perform rating in a research report on Friday, April 26th. Wells Fargo & Company boosted their target price on Northrop Grumman from $483.00 to $518.00 and gave the stock an equal weight rating in a research report on Tuesday, April 30th. Finally, Susquehanna boosted their target price on Northrop Grumman from $540.00 to $560.00 and gave the stock a positive rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $513.23.

Northrop Grumman Stock Up 2.0 %

Shares of NYSE NOC opened at $434.48 on Tuesday. Northrop Grumman has a 52-week low of $414.56 and a 52-week high of $496.89. The stock has a market cap of $64.30 billion, a PE ratio of 30.38, a PEG ratio of 1.99 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13. The business has a fifty day moving average of $458.67 and a two-hundred day moving average of $461.34.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, beating analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The company had revenue of $10.13 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same period last year, the company posted $5.50 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts expect that Northrop Grumman will post 24.7 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Friday, May 24th. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. Northrop Grumman’s payout ratio is 57.62%.

Institutional Investors Weigh In On Northrop Grumman

Several institutional investors have recently bought and sold shares of the company. HM Payson & Co. lifted its stake in Northrop Grumman by 8.3% in the 1st quarter. HM Payson & Co. now owns 3,054 shares of the aerospace company’s stock valued at $1,462,000 after acquiring an additional 234 shares in the last quarter. NBW Capital LLC lifted its stake in Northrop Grumman by 7.8% in the 1st quarter. NBW Capital LLC now owns 8,690 shares of the aerospace company’s stock valued at $4,160,000 after acquiring an additional 627 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in Northrop Grumman by 41.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 635 shares of the aerospace company’s stock valued at $304,000 after acquiring an additional 187 shares in the last quarter. Pathway Financial Advisers LLC bought a new stake in Northrop Grumman in the 1st quarter valued at approximately $1,623,000. Finally, Birmingham Capital Management Co. Inc. AL bought a new stake in Northrop Grumman in the 1st quarter valued at approximately $203,000. Institutional investors own 83.40% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.