Analysts Set Northrop Grumman Co. (NOC) PT at $352.33

Northrop Grumman Co. (NYSE:NOC) has earned an average rating of “Buy” from the eighteen research firms that are covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $346.33.

NOC has been the subject of a number of research analyst reports. UBS Group initiated coverage on shares of Northrop Grumman in a report on Wednesday, August 15th. They issued a “neutral” rating and a $315.00 price target for the company. Barclays cut their price target on shares of Northrop Grumman from $400.00 to $310.00 and set an “overweight” rating for the company in a report on Tuesday. Zacks Investment Research downgraded shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a report on Friday, October 26th. Citigroup dropped their target price on shares of Northrop Grumman from $370.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, October 25th. Finally, Jefferies Financial Group dropped their target price on shares of Northrop Grumman from $400.00 to $324.00 and set a “buy” rating for the company in a report on Tuesday, October 30th.

In other news, Chairman Wesley G. Bush sold 10,000 shares of Northrop Grumman stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $274.73, for a total transaction of $2,747,300.00. Following the completion of the sale, the chairman now directly owns 9,600 shares in the company, valued at $2,637,408. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Sheila C. Cheston sold 10,440 shares of Northrop Grumman stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $320.00, for a total transaction of $3,340,800.00. Following the sale, the vice president now owns 43,696 shares of the company’s stock, valued at $13,982,720. The disclosure for this sale can be found here. Insiders have sold a total of 32,107 shares of company stock valued at $9,521,827 over the last 90 days. 0.62% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Belpointe Asset Management LLC purchased a new stake in shares of Northrop Grumman during the third quarter worth about $111,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Northrop Grumman in the second quarter worth approximately $114,000. Fort L.P. acquired a new stake in shares of Northrop Grumman in the second quarter worth approximately $117,000. Virtus Alternative Investment Advisers Inc. acquired a new stake in shares of Northrop Grumman in the third quarter worth approximately $126,000. Finally, WESPAC Advisors SoCal LLC acquired a new stake in shares of Northrop Grumman in the third quarter worth approximately $126,000. Institutional investors and hedge funds own 82.85% of the company’s stock.

Shares of NOC traded up $0.53 during trading hours on Monday, reaching $257.54. The company had a trading volume of 1,755,855 shares, compared to its average volume of 1,451,114. The company has a quick ratio of 1.17, a current ratio of 1.26 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $44.62 billion, a PE ratio of 19.39, a P/E/G ratio of 0.97 and a beta of 0.82. Northrop Grumman has a 12-month low of $245.57 and a 12-month high of $360.88.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.35 by $2.19. The business had revenue of $8.09 billion during the quarter, compared to the consensus estimate of $7.99 billion. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. The business’s revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.67 EPS. On average, research analysts anticipate that Northrop Grumman will post 19.04 EPS for the current year.

Northrop Grumman declared that its board has authorized a stock buyback plan on Tuesday, December 4th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to repurchase up to 6.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Monday, December 3rd will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $4.80 annualized dividend and a yield of 1.86%. Northrop Grumman’s dividend payout ratio (DPR) is currently 36.14%.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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