Northrop Grumman (NYSE:NOC) Upgraded at StockNews.com

StockNews.com upgraded shares of Northrop Grumman (NYSE:NOC) from a buy rating to a strong-buy rating in a report released on Tuesday.

A number of other research analysts also recently weighed in on NOC. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and upped their price target for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. Morgan Stanley lifted their target price on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Royal Bank of Canada upped their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Citigroup lifted their target price on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Price Performance

Shares of NOC opened at $500.34 on Tuesday. The business has a 50-day simple moving average of $524.08 and a two-hundred day simple moving average of $486.03. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman has a 12-month low of $418.60 and a 12-month high of $555.57. The stock has a market cap of $72.90 billion, a PE ratio of 31.00, a PEG ratio of 1.05 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same period last year, the company earned $6.18 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Analysts anticipate that Northrop Grumman will post 25.95 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Insiders Place Their Bets

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

Institutional Trading of Northrop Grumman

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