Northrop Grumman (NYSE:NOC) Price Target Lowered to $557.00 at Susquehanna

Northrop Grumman (NYSE:NOC) had its target price lowered by Susquehanna from $625.00 to $557.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a positive rating on the aerospace company’s stock.

Other equities research analysts have also recently issued reports about the company. UBS Group boosted their price target on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price target on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research note on Monday, October 14th. Royal Bank of Canada boosted their price target on 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, StockNews.com upgraded Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 3rd. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $551.40.

Northrop Grumman Trading Up 2.3 %

Shares of NYSE:NOC opened at $462.68 on Wednesday. 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 $67.41 billion, a PE ratio of 28.67, a P/E/G ratio of 0.97 and a beta of 0.35. The business has a 50 day moving average of $486.64 and a 200-day moving average of $492.21. 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 (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 analysts’ expectations of $10.18 billion. During the same quarter in the previous year, the company posted $6.18 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts forecast that Northrop Grumman will post 25.93 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.78%. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Northrop Grumman announced that its board has authorized a share buyback plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 1,255 shares of company stock valued at $663,859 in the last three months. Insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Northrop Grumman

Institutional investors have recently modified their holdings of the company. Ascent Group LLC raised its stake in Northrop Grumman by 0.5% during the second quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock worth $1,891,000 after buying an additional 20 shares during the last quarter. Cornell Pochily Investment Advisors Inc. grew its holdings in Northrop Grumman by 0.9% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock worth $1,131,000 after acquiring an additional 20 shares during the period. Asset Dedication LLC raised its position in shares of Northrop Grumman by 1.0% in the 3rd quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock worth $1,069,000 after acquiring an additional 20 shares in the last quarter. Foundations Investment Advisors LLC lifted its stake in shares of Northrop Grumman by 1.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock valued at $780,000 after purchasing an additional 20 shares during the period. Finally, PBMares Wealth Management LLC lifted its stake in shares of Northrop Grumman by 0.5% in the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock valued at $2,335,000 after purchasing an additional 20 shares during the period. 83.40% of the stock is owned by 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.