Northrop Grumman (NOC) Raised to “Buy” at ValuEngine
ValuEngine upgraded shares of Northrop Grumman (NYSE:NOC) from a hold rating to a buy rating in a research note issued to investors on Sunday morning.
NOC has been the topic of a number of other reports. Bank of America set a $350.00 price target on shares of Northrop Grumman and gave the company a buy rating in a report on Friday, October 27th. Royal Bank of Canada set a $374.00 price target on shares of Northrop Grumman and gave the company a buy rating in a report on Thursday, November 16th. Cowen restated a hold rating and issued a $300.00 price target (up from $275.00) on shares of Northrop Grumman in a report on Thursday, October 26th. Zacks Investment Research cut shares of Northrop Grumman from a buy rating to a hold rating in a report on Monday, September 18th. Finally, Stifel Nicolaus raised their price target on shares of Northrop Grumman from $255.00 to $300.00 and gave the company a hold rating in a report on Friday, October 27th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $298.67.
Northrop Grumman (NOC) opened at $305.24 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.96. The company has a market cap of $53,140.00, a PE ratio of 22.75, a price-to-earnings-growth ratio of 3.02 and a beta of 0.69. Northrop Grumman has a 12-month low of $223.88 and a 12-month high of $311.15.
Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.76. The business had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $6.33 billion. Northrop Grumman had a net margin of 9.24% and a return on equity of 39.76%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.35 EPS. equities research analysts expect that Northrop Grumman will post 13.19 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Monday, December 4th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Friday, December 1st. Northrop Grumman’s dividend payout ratio (DPR) is presently 29.81%.
In related news, VP Denise M. Peppard sold 2,328 shares of Northrop Grumman stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 28,553 shares in the company, valued at approximately $8,590,455.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gloria A. Flach sold 7,741 shares of Northrop Grumman stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 77,200 shares of the company’s stock, valued at $22,885,940. The disclosure for this sale can be found here. Insiders sold a total of 21,417 shares of company stock valued at $6,365,189 over the last quarter. 0.70% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in NOC. Beach Investment Management LLC. acquired a new stake in Northrop Grumman in the 2nd quarter worth approximately $257,000. Victory Capital Management Inc. lifted its stake in Northrop Grumman by 16.1% during the 2nd quarter. Victory Capital Management Inc. now owns 13,029 shares of the aerospace company’s stock valued at $3,345,000 after acquiring an additional 1,809 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in Northrop Grumman by 281.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,228 shares of the aerospace company’s stock valued at $3,398,000 after acquiring an additional 9,759 shares during the period. Atlantic Trust Group LLC lifted its stake in Northrop Grumman by 23.7% during the 2nd quarter. Atlantic Trust Group LLC now owns 12,927 shares of the aerospace company’s stock valued at $3,318,000 after acquiring an additional 2,480 shares during the period. Finally, Calamos Wealth Management LLC lifted its stake in Northrop Grumman by 48.5% during the 2nd quarter. Calamos Wealth Management LLC now owns 3,343 shares of the aerospace company’s stock valued at $858,000 after acquiring an additional 1,092 shares during the period. Institutional investors own 81.10% of the company’s stock.
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Northrop Grumman 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.
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