Northrop Grumman (NYSE:NOC) Upgraded at StockNews.com

StockNews.com upgraded shares of Northrop Grumman (NYSE:NOC) from a buy rating to a strong-buy rating in a research report report published on Sunday morning.

Other analysts have also issued reports about the stock. Wells Fargo & Company upgraded shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target for the company in a research note on Wednesday, January 8th. Barclays decreased their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Susquehanna dropped their price target on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. UBS Group lifted their price objective on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Truist Financial assumed coverage on Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $550.94.

Northrop Grumman Stock Up 4.5 %

NYSE:NOC opened at $504.16 on Friday. The firm has a 50-day simple moving average of $479.52 and a two-hundred day simple moving average of $494.82. The firm has a market cap of $73.46 billion, a P/E ratio of 31.24, a P/E/G ratio of 0.91 and a beta of 0.35. Northrop Grumman has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The business had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. During the same quarter last year, the company earned $6.18 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts predict that Northrop Grumman will post 25.95 earnings per share for the current fiscal year.

Northrop Grumman declared that its board has authorized a stock buyback plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s payout ratio is currently 51.05%.

Insider Transactions at Northrop Grumman

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northrop Grumman

A number of large investors have recently made changes to their positions in the company. Federated Hermes Inc. boosted its stake in shares of Northrop Grumman by 24.3% during the second quarter. Federated Hermes Inc. now owns 2,387 shares of the aerospace company’s stock valued at $1,041,000 after purchasing an additional 467 shares during the period. Brighton Jones LLC boosted its position in Northrop Grumman by 2.9% in the 2nd quarter. Brighton Jones LLC now owns 1,071 shares of the aerospace company’s stock valued at $467,000 after buying an additional 30 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in Northrop Grumman by 4.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the aerospace company’s stock worth $961,000 after acquiring an additional 95 shares in the last quarter. AE Wealth Management LLC increased its position in shares of Northrop Grumman by 19.6% during the second quarter. AE Wealth Management LLC now owns 1,778 shares of the aerospace company’s stock worth $775,000 after acquiring an additional 291 shares during the period. Finally, Summit Trail Advisors LLC raised its stake in shares of Northrop Grumman by 9.8% during the second quarter. Summit Trail Advisors LLC now owns 895 shares of the aerospace company’s stock valued at $390,000 after acquiring an additional 80 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Company Profile

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.