Equities researchers at Morgan Stanley began coverage on shares of Northrop Grumman Corporation (NYSE:NOC) in a report released on Tuesday, MarketBeat.com reports. The firm set an “equal weight” rating and a $279.00 price target on the aerospace company’s stock. Morgan Stanley’s target price points to a potential upside of 3.49% from the company’s previous close.

Several other brokerages also recently weighed in on NOC. Stifel Nicolaus reaffirmed a “hold” rating and issued a $255.00 target price (up previously from $245.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $285.00 target price (up previously from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $243.00 target price on shares of Northrop Grumman Corporation in a research report on Wednesday, June 21st. Zacks Investment Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $270.00 target price for the company in a research report on Thursday, April 13th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $275.00 target price on shares of Northrop Grumman Corporation in a research report on Monday, July 17th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Northrop Grumman Corporation presently has a consensus rating of “Buy” and an average price target of $259.93.

Shares of Northrop Grumman Corporation (NYSE:NOC) traded up 0.15% during trading on Tuesday, hitting $269.98. The stock had a trading volume of 115,458 shares. The firm has a market cap of $47.00 billion, a price-to-earnings ratio of 20.62 and a beta of 0.66. Northrop Grumman Corporation has a 12-month low of $206.69 and a 12-month high of $270.18. The stock has a 50-day moving average of $261.05 and a 200 day moving average of $247.53.

Northrop Grumman Corporation (NYSE:NOC) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the business earned $2.85 earnings per share. The company’s revenue was up 6.3% compared to the same quarter last year. On average, analysts predict that Northrop Grumman Corporation will post $12.55 earnings per share for the current fiscal year.

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In other Northrop Grumman Corporation news, VP Thomas E. Vice sold 29,740 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $250.00, for a total transaction of $7,435,000.00. Following the transaction, the vice president now owns 72,453 shares of the company’s stock, valued at approximately $18,113,250. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Lisa R. Davis sold 367 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total value of $96,612.75. Following the transaction, the vice president now directly owns 961 shares in the company, valued at approximately $252,983.25. The disclosure for this sale can be found here. Insiders sold 33,954 shares of company stock valued at $8,531,833 in the last three months. 0.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOC. BlackRock Inc. increased its position in Northrop Grumman Corporation by 2,871.7% in the first quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock worth $3,038,501,000 after buying an additional 12,345,491 shares in the last quarter. Alliancebernstein L.P. increased its position in Northrop Grumman Corporation by 64.6% in the first quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock worth $749,119,000 after buying an additional 1,235,985 shares in the last quarter. Winslow Capital Management LLC purchased a new position in Northrop Grumman Corporation during the first quarter worth approximately $198,691,000. Renaissance Technologies LLC increased its position in Northrop Grumman Corporation by 331.4% in the first quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock worth $235,271,000 after buying an additional 759,900 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Northrop Grumman Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 12,764,239 shares of the aerospace company’s stock worth $3,035,847,000 after buying an additional 531,824 shares in the last quarter. 82.08% of the stock is currently owned by institutional investors.

About Northrop Grumman Corporation

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

Analyst Recommendations for Northrop Grumman Corporation (NYSE:NOC)

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