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

Northrop Grumman Co. (NYSE:NOC) has been given a consensus recommendation of “Hold” by the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $551.40.

A number of research analysts have recently commented on NOC shares. Barclays decreased their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday. Royal Bank of Canada upped their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. UBS Group boosted their price target on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company upgraded 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. Finally, JPMorgan Chase & Co. upped their target price on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now owns 537 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 1,255 shares of company stock valued at $663,859 in the last quarter. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Northrop Grumman

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOC. Ascent Group LLC boosted its position in Northrop Grumman by 0.5% during the 2nd quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock worth $1,891,000 after acquiring an additional 20 shares during the period. Cornell Pochily Investment Advisors Inc. raised its stake in shares of Northrop Grumman by 0.9% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock valued at $1,131,000 after purchasing an additional 20 shares in the last quarter. Asset Dedication LLC lifted its holdings in Northrop Grumman by 1.0% in the third quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock worth $1,069,000 after purchasing an additional 20 shares during the period. Foundations Investment Advisors LLC grew its position in 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 buying an additional 20 shares in the last quarter. Finally, PBMares Wealth Management LLC increased its stake in Northrop Grumman by 0.5% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock valued at $2,335,000 after buying an additional 20 shares during the period. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Stock Performance

NYSE:NOC opened at $462.68 on Friday. The firm’s fifty day simple moving average is $485.71 and its 200 day simple moving average is $492.01. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. Northrop Grumman has a twelve month low of $418.60 and a twelve month high of $555.57. The firm has a market capitalization of $67.41 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 0.97 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 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 for the quarter, compared to analysts’ expectations of $10.18 billion. During the same quarter in the previous year, the firm posted $6.18 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that Northrop Grumman will post 25.93 earnings per share for the current fiscal year.

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

Northrop Grumman Announces Dividend

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

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.