Analysts Set Northrop Grumman Co. (NYSE:NOC) Target Price at $553.27

Northrop Grumman Co. (NYSE:NOC) has received an average rating of “Hold” from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $551.40.

Several equities analysts recently commented on NOC shares. Citigroup increased their target price on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen upgraded Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Royal Bank of Canada increased their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Barclays decreased their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective for the company in a research note on Wednesday.

Insider Activity

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 1,255 shares of company stock worth $663,859 in the last quarter. 0.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NOC. RPg Family Wealth Advisory LLC purchased a new stake in Northrop Grumman in the third quarter worth about $31,000. Meeder Asset Management Inc. grew its stake in shares of 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 buying an additional 54 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Northrop Grumman in the 3rd quarter worth approximately $36,000. Modus Advisors LLC bought a new position in Northrop Grumman during the 4th quarter valued at approximately $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Northrop Grumman during the third quarter valued at $40,000. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Trading Down 0.8 %

Shares of NOC stock opened at $458.37 on Friday. The business has a 50-day moving average price of $484.74 and a two-hundred day moving average price of $492.64. Northrop Grumman has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The firm has a market cap of $66.78 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 0.97 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share 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 quarter in the previous year, the company posted $6.18 EPS. Northrop Grumman’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that Northrop Grumman will post 25.93 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.80%. Northrop Grumman’s payout ratio is 51.05%.

Northrop Grumman declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Northrop Grumman Company Profile

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.