Northrop Grumman Corporation (NOC) Receives Consensus Rating of “Buy” from Brokerages
Shares of Northrop Grumman Corporation (NYSE:NOC) have been given a consensus recommendation of “Buy” by the sixteen analysts that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $293.54.
A number of brokerages recently commented on NOC. Argus raised their price objective on shares of Northrop Grumman Corporation from $270.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Stifel Nicolaus restated a “hold” rating and set a $255.00 price objective (up from $245.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Vertical Research restated a “buy” rating and set a $296.00 price objective (up from $280.00) on shares of Northrop Grumman Corporation in a research note on Wednesday, September 20th. Deutsche Bank AG reaffirmed a “buy” rating and set a $325.00 target price (up previously from $285.00) on shares of Northrop Grumman Corporation in a report on Monday, October 2nd. Finally, Royal Bank Of Canada lifted their target price on shares of Northrop Grumman Corporation from $324.00 to $347.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th.
In other news, VP Denise M. Peppard sold 2,328 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $300.86, for a total value of $700,402.08. Following the sale, the vice president now directly owns 28,553 shares of the company’s stock, valued at approximately $8,590,455.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Gloria A. Flach sold 7,741 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $296.45, for a total transaction of $2,294,819.45. Following the transaction, the chief operating officer now directly owns 77,200 shares in the company, valued at $22,885,940. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,417 shares of company stock worth $6,365,189. Insiders own 0.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new position in shares of Northrop Grumman Corporation in the third quarter valued at $1,060,000. Public Employees Retirement System of Ohio increased its holdings in Northrop Grumman Corporation by 0.8% during the third quarter. Public Employees Retirement System of Ohio now owns 111,923 shares of the aerospace company’s stock worth $32,202,000 after buying an additional 859 shares during the last quarter. Smith Shellnut Wilson LLC ADV increased its holdings in Northrop Grumman Corporation by 35.8% during the third quarter. Smith Shellnut Wilson LLC ADV now owns 1,244 shares of the aerospace company’s stock worth $358,000 after buying an additional 328 shares during the last quarter. Gofen & Glossberg LLC IL increased its holdings in Northrop Grumman Corporation by 3.5% during the third quarter. Gofen & Glossberg LLC IL now owns 8,902 shares of the aerospace company’s stock worth $2,561,000 after buying an additional 300 shares during the last quarter. Finally, Cetera Advisors LLC increased its holdings in Northrop Grumman Corporation by 22.7% during the third quarter. Cetera Advisors LLC now owns 1,547 shares of the aerospace company’s stock worth $446,000 after buying an additional 286 shares during the last quarter. 81.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of Northrop Grumman Corporation (NYSE:NOC) traded down $2.29 during midday trading on Thursday, hitting $302.02. 463,700 shares of the stock were exchanged, compared to its average volume of 772,940. The company has a market capitalization of $52,973.82, a PE ratio of 23.19, a price-to-earnings-growth ratio of 3.06 and a beta of 0.70. Northrop Grumman Corporation has a 52 week low of $220.72 and a 52 week high of $306.61. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.96.
Northrop Grumman Corporation (NYSE:NOC) last announced its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.76. Northrop Grumman Corporation had a net margin of 9.24% and a return on equity of 39.76%. The company had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same period last year, the firm posted $3.35 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. analysts forecast that Northrop Grumman Corporation will post 13.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Monday, December 4th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, December 1st. Northrop Grumman Corporation’s dividend payout ratio is currently 29.81%.
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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