Northrop Grumman Corporation (NOC) Stock Rating Reaffirmed by Stifel Nicolaus
Northrop Grumman Corporation (NYSE:NOC)‘s stock had its “hold” rating reiterated by analysts at Stifel Nicolaus in a report issued on Thursday. They presently have a $255.00 target price on the aerospace company’s stock. Stifel Nicolaus’ target price indicates a potential downside of 8.94% from the stock’s previous close.
A number of other analysts also recently issued reports on the stock. Vertical Research restated a “buy” rating and set a $296.00 price objective (up previously from $280.00) on shares of Northrop Grumman Corporation in a report on Wednesday. Zacks Investment Research upgraded shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $309.00 target price for the company in a research report on Wednesday. Royal Bank Of Canada set a $294.00 target price on shares of Northrop Grumman Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Cowen and Company reiterated a “hold” rating and set a $275.00 target price on shares of Northrop Grumman Corporation in a research report on Thursday, August 24th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and set a $309.00 target price on shares of Northrop Grumman Corporation in a research report on Wednesday, August 23rd. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $272.01.
Northrop Grumman Corporation (NYSE:NOC) traded down 0.080% during midday trading on Thursday, reaching $279.815. The company’s stock had a trading volume of 148,877 shares. The company has a 50 day moving average price of $269.39 and a 200 day moving average price of $255.59. The firm has a market cap of $48.71 billion, a price-to-earnings ratio of 21.375 and a beta of 0.66. Northrop Grumman Corporation has a 1-year low of $210.60 and a 1-year high of $280.21.
Northrop Grumman Corporation (NYSE:NOC) last announced its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. 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 company posted $2.85 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Northrop Grumman Corporation will post $12.55 EPS for the current year.
In other news, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the sale, the vice president now owns 961 shares in the company, valued at approximately $252,983.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.
A number of large investors have recently modified their holdings of the business. M Holdings Securities Inc. purchased a new position in Northrop Grumman Corporation in the 2nd quarter worth about $320,000. Griffin Asset Management Inc. purchased a new stake in shares of Northrop Grumman Corporation during the 2nd quarter valued at about $1,452,000. WFG Advisors LP increased its position in shares of Northrop Grumman Corporation by 4.9% during the 2nd quarter. WFG Advisors LP now owns 594 shares of the aerospace company’s stock valued at $152,000 after purchasing an additional 28 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Northrop Grumman Corporation by 25.2% during the 2nd quarter. Toronto Dominion Bank now owns 59,532 shares of the aerospace company’s stock valued at $15,280,000 after purchasing an additional 11,991 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Northrop Grumman Corporation by 0.8% during the 2nd quarter. Cetera Investment Advisers now owns 1,278 shares of the aerospace company’s stock valued at $328,000 after purchasing an additional 10 shares during the last quarter. 81.37% of the stock is owned by institutional investors and hedge funds.
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.
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