UBS Group Lowers Northrop Grumman (NYSE:NOC) Price Target to $558.00

Northrop Grumman (NYSE:NOC) had its price objective cut by equities researchers at UBS Group from $579.00 to $558.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. UBS Group’s target price would indicate a potential upside of 14.85% from the stock’s current price.

Other research analysts have also issued reports about the stock. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 target price for the company in a research note on Tuesday, January 21st. Susquehanna reduced their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Truist Financial started coverage on shares of Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. Eight investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $544.31.

Northrop Grumman Stock Up 0.5 %

Shares of NOC traded up $2.50 during midday trading on Friday, hitting $485.87. The company had a trading volume of 397,169 shares, compared to its average volume of 849,352. The company’s 50 day moving average price is $478.40 and its 200 day moving average price is $497.53. The stock has a market cap of $70.79 billion, a price-to-earnings ratio of 30.10, a PEG ratio of 0.91 and a beta of 0.35. Northrop Grumman has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. On average, equities research analysts predict that Northrop Grumman will post 25.96 EPS for the current year.

Northrop Grumman announced that its board has approved a stock buyback program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Northrop Grumman

Large investors have recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of Northrop Grumman in the 3rd quarter valued at $31,000. Albion Financial Group UT acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $33,000. FSA Wealth Management LLC acquired a new position in shares of Northrop Grumman in the 3rd quarter valued at $36,000. Modus Advisors LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at $38,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Northrop Grumman in the 3rd quarter valued at $40,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

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.