Northrop Grumman Co. (NYSE:NOC) Receives $550.56 Consensus Price Target from Brokerages

Northrop Grumman Co. (NYSE:NOC) has earned an average rating of “Hold” from the sixteen analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $550.56.

NOC has been the subject of several research reports. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Royal Bank of Canada increased their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Alembic Global Advisors downgraded Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target for the company. in a research note on Tuesday, August 27th. Citigroup increased their price target on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. increased their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th.

Northrop Grumman Stock Up 0.1 %

Shares of NYSE:NOC opened at $496.93 on Friday. The company has a market capitalization of $72.40 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 1.00 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The business has a fifty day moving average price of $520.60 and a two-hundred day moving average price of $486.74. Northrop Grumman has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.18 EPS. Analysts forecast that Northrop Grumman will post 25.93 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $2.06 dividend. The ex-dividend date is Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.66%. Northrop Grumman’s payout ratio is currently 51.05%.

Insider Buying and Selling at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 1,289 shares of company stock valued at $685,273 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Northrop Grumman

Large investors have recently modified their holdings of the company. Optimum Investment Advisors raised its holdings in shares of Northrop Grumman by 241.2% during the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after buying an additional 41 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in Northrop Grumman in the 3rd quarter worth approximately $31,000. Bank & Trust Co purchased a new position in Northrop Grumman in the 2nd quarter worth approximately $28,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman in the 3rd quarter worth approximately $36,000. Finally, Meeder Asset Management Inc. increased its stake in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 54 shares during the period. 83.40% of the stock is owned by hedge funds and other institutional investors.

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.