Northrop Grumman Co. (NYSE:NOC) Receives $550.94 Average PT from Brokerages

Shares of Northrop Grumman Co. (NYSE:NOC) have earned an average rating of “Hold” from the seventeen analysts that are presently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $544.31.

Several research firms recently weighed in on NOC. StockNews.com cut shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday. Barclays lowered their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Wolfe Research raised shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday. Finally, UBS Group lowered their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday.

Northrop Grumman Stock Up 0.1 %

Shares of NYSE NOC opened at $487.87 on Thursday. The firm has a market cap of $70.62 billion, a PE ratio of 17.21, a P/E/G ratio of 0.91 and a beta of 0.35. Northrop Grumman has a 12-month low of $418.60 and a 12-month high of $555.57. The company’s fifty day simple moving average is $478.20 and its 200 day simple moving average is $498.76. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, sell-side analysts forecast that Northrop Grumman will post 28.04 earnings per share for the current fiscal year.

Northrop Grumman declared that its board has approved a share buyback program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.69%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Insiders Place Their Bets

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the business’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 completion of the transaction, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 1,222 shares of company stock valued at $647,025 in the last quarter. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Northrop Grumman

A number of institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of Northrop Grumman by 0.4% in the 3rd quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock valued at $2,186,681,000 after purchasing an additional 17,596 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Northrop Grumman by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock valued at $1,581,644,000 after purchasing an additional 18,791 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after purchasing an additional 141,816 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Northrop Grumman by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock valued at $427,444,000 after purchasing an additional 3,211 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after buying an additional 372,500 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

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.