Zacks Investment Research cut shares of Northrop Grumman Corporation (NYSE:NOC) from a buy rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “As one of the top largest U.S. defense contractors, Northrop continues to enjoy strong presence in Air Force, Space & Cyber Security programs. Moreover, its product innovation and focus on strengthening its ISR wing will help maintain a stable earnings stream amid the rapidly changing needs of the defense landscape. The company maintains a strong balance sheet and steady cash flow that offer substantial financial flexibility. With rising demand for arsenals across the globe, foreign military sales continue to be a major growth driver for Northrop. However, challenging economic and political factors have been raising concerns. Moreover, too much dependence on fixed-price contracts remains a concern for the stock. Also the stock underperformed the broader industry in the last one year.”

NOC has been the subject of a number of other research reports. Argus increased their price target on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a buy rating in a report on Friday, August 4th. Morgan Stanley assumed coverage on shares of Northrop Grumman Corporation in a report on Tuesday, August 8th. They issued an equal weight rating and a $279.00 price target for the company. BidaskClub downgraded shares of Northrop Grumman Corporation from a buy rating to a hold rating in a report on Monday, July 31st. Goldman Sachs Group, Inc. (The) reiterated a conviction-buy rating and issued a $309.00 price target on shares of Northrop Grumman Corporation in a report on Wednesday, August 23rd. Finally, Cowen and Company reiterated a hold rating and issued a $275.00 price target on shares of Northrop Grumman Corporation in a report on Monday, July 17th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Northrop Grumman Corporation has an average rating of Buy and an average target price of $269.86.

Shares of Northrop Grumman Corporation (NYSE NOC) opened at 268.96 on Tuesday. The stock’s 50 day moving average is $268.20 and its 200-day moving average is $254.50. The stock has a market cap of $46.82 billion, a PE ratio of 20.55 and a beta of 0.66. Northrop Grumman Corporation has a 1-year low of $208.09 and a 1-year high of $274.61.

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

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 28th will be issued a dividend of $1.00 per share. The ex-dividend date is Thursday, August 24th. This represents a $4.00 annualized dividend and a yield of 1.49%. Northrop Grumman Corporation’s dividend payout ratio (DPR) is currently 30.56%.

In other news, VP Lisa R. Davis sold 367 shares of Northrop Grumman Corporation stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the completion of the sale, the vice president now directly owns 961 shares in the company, valued at $252,983.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Shelton Capital Management grew its holdings in shares of Northrop Grumman Corporation by 70.5% during the first quarter. Shelton Capital Management now owns 17,200 shares of the aerospace company’s stock worth $4,091,000 after buying an additional 7,112 shares in the last quarter. Evermay Wealth Management LLC purchased a new stake in shares of Northrop Grumman Corporation during the first quarter worth about $286,000. Holderness Investments Co. grew its holdings in shares of Northrop Grumman Corporation by 38.6% during the first quarter. Holderness Investments Co. now owns 2,587 shares of the aerospace company’s stock worth $615,000 after buying an additional 720 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Northrop Grumman Corporation by 331.4% during 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, Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Northrop Grumman Corporation by 0.6% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 13,418 shares of the aerospace company’s stock worth $3,191,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

Northrop Grumman Corporation Company Profile

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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