Northrop Grumman (NYSE:NOC) Coverage Initiated at Citigroup

Citigroup began coverage on shares of Northrop Grumman (NYSE:NOC) in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm set a “buy” rating and a $654.00 price target on the aerospace company’s stock. Citigroup’s target price would indicate a potential upside of 14.84% from the stock’s current price.

A number of other research firms have also commented on NOC. Weiss Ratings restated a “buy (b-)” rating on shares of Northrop Grumman in a research note on Tuesday, October 14th. Morgan Stanley upped their price objective on Northrop Grumman from $625.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Susquehanna lifted their target price on Northrop Grumman from $650.00 to $690.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. Sanford C. Bernstein set a $696.00 price target on Northrop Grumman in a research note on Thursday, October 23rd. Finally, BNP Paribas upgraded shares of Northrop Grumman to a “strong-buy” rating in a research note on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $650.88.

Northrop Grumman Stock Performance

NYSE:NOC traded up $9.46 during mid-day trading on Thursday, reaching $569.50. 732,997 shares of the stock were exchanged, compared to its average volume of 696,869. The stock has a market capitalization of $81.28 billion, a P/E ratio of 20.49, a P/E/G ratio of 4.88 and a beta of 0.05. Northrop Grumman has a 1 year low of $426.24 and a 1 year high of $640.90. The company has a 50 day simple moving average of $580.16 and a 200-day simple moving average of $558.99. The company has a quick ratio of 0.98, a current ratio of 1.11 and a debt-to-equity ratio of 0.95.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.43 by $1.24. The company had revenue of $10.42 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Northrop Grumman had a return on equity of 25.49% and a net margin of 9.82%.The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.00 earnings per share. Northrop Grumman has set its FY 2025 guidance at 25.650-26.050 EPS. Analysts anticipate that Northrop Grumman will post 28.05 earnings per share for the current fiscal year.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, Director Mark A. Welsh III sold 97 shares of Northrop Grumman stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $564.08, for a total transaction of $54,715.76. Following the completion of the transaction, the director owned 4,281 shares in the company, valued at approximately $2,414,826.48. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Soundwatch Capital LLC purchased a new stake in shares of Northrop Grumman during the 2nd quarter valued at $6,457,274,000. Mawer Investment Management Ltd. purchased a new stake in shares of Northrop Grumman during the second quarter valued at approximately $491,985,000. Wellington Management Group LLP boosted its stake in shares of Northrop Grumman by 23.4% in the first quarter. Wellington Management Group LLP now owns 5,139,333 shares of the aerospace company’s stock valued at $2,631,390,000 after purchasing an additional 974,633 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Northrop Grumman by 1,425.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,001,198 shares of the aerospace company’s stock valued at $512,624,000 after buying an additional 935,554 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Northrop Grumman by 98.8% in the first quarter. AQR Capital Management LLC now owns 899,114 shares of the aerospace company’s stock valued at $460,355,000 after purchasing an additional 446,940 shares during the last quarter. 83.40% of the stock is currently 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.