Sanford C. Bernstein Lowers Northrop Grumman (NYSE:NOC) to Market Perform

Sanford C. Bernstein downgraded shares of Northrop Grumman (NYSE:NOCFree Report) from an outperform rating to a market perform rating in a report released on Friday, MarketBeat reports. Sanford C. Bernstein currently has $477.00 price target on the aerospace company’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com raised shares of Northrop Grumman from a hold rating to a buy rating in a research report on Friday, April 26th. Wells Fargo & Company lifted their price target on shares of Northrop Grumman from $483.00 to $518.00 in a research note on Tuesday, June 18th. Royal Bank of Canada boosted their price objective on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a sector perform rating in a research report on Friday, April 26th. Jefferies Financial Group lowered their target price on Northrop Grumman from $530.00 to $500.00 and set a hold rating on the stock in a research report on Tuesday, June 18th. Finally, Alembic Global Advisors upgraded Northrop Grumman from a neutral rating to an overweight rating and set a $532.00 price target for the company in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Northrop Grumman has an average rating of Hold and an average target price of $506.15.

Read Our Latest Report on Northrop Grumman

Northrop Grumman Price Performance

NOC opened at $432.09 on Friday. The company’s 50-day simple moving average is $458.20 and its two-hundred day simple moving average is $460.76. Northrop Grumman has a 52-week low of $414.56 and a 52-week high of $496.89. The stock has a market capitalization of $63.94 billion, a P/E ratio of 30.22, a P/E/G ratio of 2.03 and a beta of 0.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13.

Northrop Grumman (NYSE:NOCGet Free Report) last issued its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.83 by $0.49. The company had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $5.50 earnings per share. As a group, analysts predict that Northrop Grumman will post 24.7 EPS for the current year.

Northrop Grumman Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, May 24th. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.87. Northrop Grumman’s dividend payout ratio is 57.62%.

Hedge Funds Weigh In On Northrop Grumman

Institutional investors have recently added to or reduced their stakes in the company. Rathbones Group PLC purchased a new stake in shares of Northrop Grumman during the 3rd quarter valued at about $208,000. V Square Quantitative Management LLC purchased a new stake in Northrop Grumman during the third quarter valued at approximately $184,000. Acadian Asset Management LLC lifted its stake in shares of Northrop Grumman by 13.6% in the 3rd quarter. Acadian Asset Management LLC now owns 1,724 shares of the aerospace company’s stock valued at $757,000 after purchasing an additional 207 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Northrop Grumman by 6.4% in the 3rd quarter. LPL Financial LLC now owns 197,856 shares of the aerospace company’s stock worth $87,094,000 after purchasing an additional 11,888 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of Northrop Grumman by 117.4% during the 3rd quarter. Federated Hermes Inc. now owns 2,237 shares of the aerospace company’s stock valued at $985,000 after purchasing an additional 1,208 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

About Northrop Grumman

(Get Free Report)

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.

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Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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