Northrop Grumman (NOC) Upgraded to “Buy” at Jefferies Group

Jefferies Group upgraded shares of Northrop Grumman (NYSE:NOC) from a hold rating to a buy rating in a report published on Wednesday morning, Marketbeat.com reports. Jefferies Group currently has $400.00 price objective on the aerospace company’s stock. Jefferies Group also issued estimates for Northrop Grumman’s Q1 2018 earnings at $3.75 EPS, Q2 2018 earnings at $3.91 EPS, Q3 2018 earnings at $4.18 EPS, Q4 2018 earnings at $3.85 EPS and FY2018 earnings at $15.70 EPS.

A number of other equities research analysts also recently commented on the company. Argus raised Northrop Grumman to a buy rating in a report on Wednesday, February 7th. Zacks Investment Research downgraded Northrop Grumman from a buy rating to a hold rating in a report on Friday, January 26th. Robert W. Baird reaffirmed a buy rating and set a $394.00 target price on shares of Northrop Grumman in a report on Friday, January 26th. Cowen reaffirmed a hold rating and set a $310.00 target price on shares of Northrop Grumman in a report on Thursday, January 25th. Finally, Royal Bank of Canada set a $389.00 target price on Northrop Grumman and gave the stock a buy rating in a report on Tuesday, January 23rd. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $326.21.

Northrop Grumman (NOC) traded up $4.61 during trading on Wednesday, hitting $354.23. The company had a trading volume of 370,560 shares, compared to its average volume of 1,041,132. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.35 and a quick ratio of 2.24. Northrop Grumman has a 12-month low of $233.20 and a 12-month high of $355.10. The firm has a market capitalization of $60,860.00, a P/E ratio of 30.82, a price-to-earnings-growth ratio of 2.47 and a beta of 0.82.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 25th. The aerospace company reported $2.82 EPS for the quarter, topping the Zacks’ consensus estimate of $2.75 by $0.07. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. The firm had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $6.34 billion. During the same quarter in the previous year, the company posted $2.96 earnings per share. The company’s revenue was up 3.7% compared to the same quarter last year. analysts expect that Northrop Grumman will post 15.18 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, March 5th will be given a dividend of $1.10 per share. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.00. This represents a $4.40 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, March 2nd. Northrop Grumman’s dividend payout ratio (DPR) is currently 34.87%.

Hedge funds have recently made changes to their positions in the stock. Icon Wealth Partners LLC purchased a new position in Northrop Grumman during the fourth quarter valued at approximately $100,000. Truewealth LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter valued at approximately $110,000. Ropes Wealth Advisors LLC purchased a new stake in shares of Northrop Grumman in the third quarter valued at approximately $144,000. Crewe Advisors LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter valued at approximately $159,000. Finally, Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Northrop Grumman in the third quarter valued at approximately $154,000. Institutional investors own 80.56% of the company’s stock.

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Northrop Grumman Company Profile

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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