Northrop Grumman Corp. (NOC) Research Coverage Started at Robert W. Baird
Robert W. Baird initiated coverage on shares of Northrop Grumman Corp. (NYSE:NOC) in a research report sent to investors on Wednesday. The firm issued an outperform rating and a $260.00 price target on the stock.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Northrop Grumman Corp. from a buy rating to a hold rating in a research report on Monday, August 1st. Vetr cut shares of Northrop Grumman Corp. from a buy rating to a hold rating and set a $224.44 price target on the stock. in a research report on Wednesday, June 8th. Argus reiterated a buy rating on shares of Northrop Grumman Corp. in a research report on Tuesday, August 2nd. Cowen and Company restated a market perform rating and issued a $227.00 target price (up previously from $220.00) on shares of Northrop Grumman Corp. in a report on Wednesday, June 15th. Finally, Jefferies Group raised their target price on shares of Northrop Grumman Corp. from $233.00 to $250.00 and gave the stock a buy rating in a report on Thursday, July 28th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $223.97.
Northrop Grumman Corp. (NYSE:NOC) traded up 0.45% on Wednesday, hitting $216.41. 59,542 shares of the company were exchanged. The stock has a 50 day moving average of $213.57 and a 200 day moving average of $212.68. The company has a market capitalization of $38.65 billion, a price-to-earnings ratio of 19.47 and a beta of 0.72. Northrop Grumman Corp. has a 52 week low of $172.40 and a 52 week high of $224.12.
Northrop Grumman Corp. (NYSE:NOC) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.32. Northrop Grumman Corp. had a net margin of 8.67% and a return on equity of 32.59%. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.99 billion. During the same period last year, the business earned $2.54 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts predict that Northrop Grumman Corp. will post $11.04 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Monday, August 29th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Thursday, August 25th. Northrop Grumman Corp.’s dividend payout ratio is presently 32.37%.
In other news, CFO Kenneth L. Bedingfield sold 125 shares of Northrop Grumman Corp. stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $213.00, for a total value of $26,625.00. Following the completion of the transaction, the chief financial officer now owns 18,501 shares of the company’s stock, valued at approximately $3,940,713. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Christopher T. Jones sold 240 shares of Northrop Grumman Corp. stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $215.86, for a total value of $51,806.40. Following the completion of the transaction, the vice president now directly owns 48,020 shares of the company’s stock, valued at approximately $10,365,597.20. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in Northrop Grumman Corp. by 69.2% in the second quarter. FMR LLC now owns 4,262,441 shares of the company’s stock valued at $947,455,000 after buying an additional 1,742,969 shares in the last quarter. Capital International Investors raised its position in Northrop Grumman Corp. by 57.7% in the second quarter. Capital International Investors now owns 1,799,200 shares of the company’s stock valued at $399,926,000 after buying an additional 658,300 shares in the last quarter. Wellington Management Group LLP raised its position in Northrop Grumman Corp. by 21.7% in the first quarter. Wellington Management Group LLP now owns 3,362,671 shares of the company’s stock valued at $665,472,000 after buying an additional 600,388 shares in the last quarter. Renaissance Technologies LLC bought a new position in Northrop Grumman Corp. during the first quarter valued at about $77,676,000. Finally, Bank of Montreal Can bought a new position in Northrop Grumman Corp. during the second quarter valued at about $76,299,000. 82.52% of the stock is owned by hedge funds and other institutional investors.
Northrop Grumman Corp. Company Profile
Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.
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