Robert W. Baird Raises Northrop Grumman (NYSE:NOC) Price Target to $364.00

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Northrop Grumman (NYSE:NOC) had its price target boosted by Robert W. Baird from $300.00 to $364.00 in a research report sent to investors on Wednesday morning, The Fly reports. They currently have an outperform rating on the aerospace company’s stock.

Other analysts also recently issued reports about the stock. Susquehanna Bancshares raised shares of Northrop Grumman from a neutral rating to a positive rating and boosted their target price for the stock from $309.00 to $315.00 in a research report on Friday, April 5th. ValuEngine raised shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, May 17th. UBS Group restated a buy rating and issued a $124.00 price objective on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research note on Thursday, April 25th. Alembic Global Advisors upgraded shares of Northrop Grumman from a neutral rating to an overweight rating in a research note on Tuesday, April 30th. Finally, Barclays restated a buy rating on shares of Netflix in a research note on Thursday, May 16th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $338.24.

NOC stock opened at $329.53 on Wednesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.18 and a quick ratio of 1.10. The company has a market capitalization of $55.17 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 1.31 and a beta of 0.80. Northrop Grumman has a 12 month low of $223.63 and a 12 month high of $329.61. The business has a 50 day simple moving average of $316.05.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $5.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.59 by $0.47. The company had revenue of $8.19 billion during the quarter, compared to the consensus estimate of $8.34 billion. Northrop Grumman had a net margin of 9.67% and a return on equity of 41.42%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.21 earnings per share. As a group, sell-side analysts expect that Northrop Grumman will post 19.41 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Monday, June 3rd were paid a dividend of $1.32 per share. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.20. This represents a $5.28 annualized dividend and a yield of 1.60%. The ex-dividend date was Friday, May 31st. Northrop Grumman’s dividend payout ratio is presently 24.75%.

In other news, Director Madeleine Kleiner sold 971 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $315.16, for a total value of $306,020.36. Following the sale, the director now owns 16,675 shares of the company’s stock, valued at approximately $5,255,293. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Wesley G. Bush sold 50,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $291.59, for a total transaction of $14,579,500.00. Following the completion of the sale, the chairman now directly owns 46,275 shares in the company, valued at approximately $13,493,327.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,903 shares of company stock valued at $15,484,440. Corporate insiders own 0.45% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Trustcore Financial Services LLC bought a new position in shares of Northrop Grumman in the 1st quarter valued at about $27,000. Glassman Wealth Services raised its position in shares of Northrop Grumman by 203.0% in the 1st quarter. Glassman Wealth Services now owns 100 shares of the aerospace company’s stock valued at $27,000 after acquiring an additional 67 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Northrop Grumman in the 1st quarter valued at approximately $28,000. Sontag Advisory LLC acquired a new stake in shares of Northrop Grumman in the 4th quarter valued at approximately $29,000. Finally, Meridian Wealth Management LLC acquired a new stake in shares of Northrop Grumman in the 1st quarter valued at approximately $29,000. 83.20% of the stock is currently owned by institutional investors and hedge funds.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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