Wells Fargo & Company Increases Northrop Grumman (NYSE:NOC) Price Target to $509.00

Northrop Grumman (NYSE:NOC) had its price target hoisted by stock analysts at Wells Fargo & Company from $467.00 to $509.00 in a report released on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 8.18% from the company’s previous close.

NOC has been the subject of a number of other research reports. BTIG Research initiated coverage on Northrop Grumman in a research report on Wednesday, June 26th. They issued a “buy” rating and a $565.00 target price for the company. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Sanford C. Bernstein downgraded shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price target for the company. in a research note on Friday, June 21st. Susquehanna lifted their price objective on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a report on Friday, April 26th. Finally, Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price for the company in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $509.71.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $470.53 on Friday. Northrop Grumman has a twelve month low of $414.56 and a twelve month high of $496.89. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $69.63 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.06 and a beta of 0.33. The stock’s 50-day simple moving average is $441.27 and its two-hundred day simple moving average is $455.43.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.95 by $0.41. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The company had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $10.02 billion. During the same period in the previous year, the firm posted $5.34 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts anticipate that Northrop Grumman will post 24.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NOC. Gulf International Bank UK Ltd grew its position in Northrop Grumman by 1,402.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 12,925 shares of the aerospace company’s stock valued at $6,186,000 after purchasing an additional 12,065 shares during the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Northrop Grumman during the first quarter valued at $870,000. Norden Group LLC purchased a new position in Northrop Grumman in the 1st quarter worth about $778,000. Fisher Asset Management LLC lifted its stake in Northrop Grumman by 7,574.5% during the 4th quarter. Fisher Asset Management LLC now owns 123,637 shares of the aerospace company’s stock valued at $57,879,000 after acquiring an additional 122,026 shares during the period. Finally, Red Mountain Financial LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter valued at about $264,000. 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.