Northrop Grumman (NYSE:NOC – Get Rating) had its price target raised by equities researchers at Wells Fargo & Company from $390.00 to $472.00 in a note issued to investors on Monday, The Fly reports. Wells Fargo & Company’s target price would indicate a potential upside of 0.73% from the stock’s current price.
Several other brokerages also recently commented on NOC. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Thursday, February 24th. Susquehanna raised their price objective on shares of Northrop Grumman from $416.00 to $437.00 in a research report on Friday, January 28th. Jefferies Financial Group lowered shares of Northrop Grumman from a “buy” rating to a “hold” rating and set a $410.00 target price on the stock. in a report on Wednesday, January 5th. Morgan Stanley increased their target price on shares of Northrop Grumman from $428.00 to $521.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 2nd. Finally, Susquehanna Bancshares boosted their price target on shares of Northrop Grumman from $416.00 to $437.00 and gave the company a “positive” rating in a research report on Friday, January 28th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $427.27.
NYSE NOC opened at $468.57 on Monday. The firm has a market cap of $73.14 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 2.58 and a beta of 0.84. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.99. The company’s 50 day moving average is $396.84 and its 200-day moving average is $377.60. Northrop Grumman has a 12-month low of $295.16 and a 12-month high of $472.94.
Northrop Grumman (NYSE:NOC – Get Rating) last issued its earnings results on Thursday, January 27th. The aerospace company reported $6.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.96 by $0.04. Northrop Grumman had a net margin of 19.64% and a return on equity of 35.83%. The business had revenue of $8.60 billion for the quarter, compared to analysts’ expectations of $9 billion. During the same quarter in the previous year, the firm posted $6.59 EPS. The business’s revenue for the quarter was down 15.8% compared to the same quarter last year. Equities analysts expect that Northrop Grumman will post 24.75 EPS for the current year.
In other news, VP Mark A. Caylor sold 427 shares of the company’s stock in a transaction on Wednesday, December 8th. The shares were sold at an average price of $363.54, for a total value of $155,231.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sheila C. Cheston sold 575 shares of Northrop Grumman stock in a transaction on Monday, February 14th. The stock was sold at an average price of $397.00, for a total transaction of $228,275.00. The disclosure for this sale can be found here. Insiders have sold 7,127 shares of company stock worth $2,814,298 in the last 90 days. Company insiders own 0.25% of the company’s stock.
Large investors have recently made changes to their positions in the company. OLD Mission Capital LLC bought a new position in Northrop Grumman during the 3rd quarter worth approximately $5,643,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Northrop Grumman by 12.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 29,301 shares of the aerospace company’s stock worth $10,649,000 after purchasing an additional 3,334 shares during the last quarter. Morgan Stanley grew its holdings in shares of Northrop Grumman by 7.5% in the second quarter. Morgan Stanley now owns 1,725,988 shares of the aerospace company’s stock worth $627,275,000 after purchasing an additional 119,686 shares during the last quarter. Beacon Pointe Advisors LLC increased its stake in shares of Northrop Grumman by 14.7% in the second quarter. Beacon Pointe Advisors LLC now owns 6,226 shares of the aerospace company’s stock worth $2,263,000 after buying an additional 796 shares during the period. Finally, X Square Capital LLC bought a new stake in Northrop Grumman during the 2nd quarter valued at $321,000. 83.20% of the stock is currently owned by hedge funds and other institutional investors.
About Northrop Grumman
Northrop Grumman Corp. engages in the provision of advanced aircraft systems. It operates through the following segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment is involved in the design, development, production, integration, sustainment, and modernization of advanced aircraft systems for the U.S.