Northrop Grumman (NYSE:NOC) Given New $518.00 Price Target at Wells Fargo & Company

Northrop Grumman (NYSE:NOC) had its price objective increased by equities researchers at Wells Fargo & Company from $483.00 to $518.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 6.81% from the company’s current price.

NOC has been the topic of a number of other research reports. StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday. Robert W. Baird increased their price target on Northrop Grumman from $475.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday. Alembic Global Advisors raised shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price objective for the company in a research report on Monday, April 22nd. Susquehanna upped their price objective on shares of Northrop Grumman from $540.00 to $560.00 and gave the company a “positive” rating in a report on Friday. Finally, Royal Bank of Canada raised their target price on shares of Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Northrop Grumman has a consensus rating of “Hold” and an average target price of $509.38.

Northrop Grumman Stock Down 0.3 %

Shares of NYSE:NOC traded down $1.23 during midday trading on Tuesday, hitting $484.99. The stock had a trading volume of 106,213 shares, compared to its average volume of 992,813. The company has a market cap of $71.77 billion, a P/E ratio of 33.89, a PEG ratio of 1.93 and a beta of 0.35. Northrop Grumman has a 12 month low of $414.56 and a 12 month high of $496.89. The business’s 50-day simple moving average is $463.30 and its 200-day simple moving average is $465.78. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 1.04.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 EPS for the quarter, beating analysts’ consensus estimates of $5.83 by $0.49. The firm had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $5.50 earnings per share. On average, sell-side analysts forecast that Northrop Grumman will post 24.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Michael A. Hardesty sold 210 shares of Northrop Grumman stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total value of $95,482.80. Following the transaction, the chief accounting officer now directly owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Michael A. Hardesty sold 210 shares of Northrop Grumman stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total value of $95,482.80. Following the completion of the transaction, the chief accounting officer now directly owns 3,127 shares of the company’s stock, valued at approximately $1,421,784.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kathryn G. Simpson sold 711 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total value of $322,239.42. Following the transaction, the vice president now owns 2,024 shares in the company, valued at $917,317.28. The disclosure for this sale can be found here. Insiders have sold a total of 3,149 shares of company stock valued at $1,421,147 over the last 90 days. 0.22% of the stock is owned by insiders.

Institutional Trading of Northrop Grumman

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOC. Joel Isaacson & Co. LLC bought a new position in shares of Northrop Grumman in the 1st quarter worth $657,000. Signet Investment Advisory Group Inc. grew its holdings in shares of Northrop Grumman by 10.5% during the first quarter. Signet Investment Advisory Group Inc. now owns 4,011 shares of the aerospace company’s stock valued at $1,920,000 after buying an additional 381 shares during the last quarter. Caprock Group LLC increased its position in shares of Northrop Grumman by 5.8% during the first quarter. Caprock Group LLC now owns 1,544 shares of the aerospace company’s stock worth $739,000 after acquiring an additional 84 shares in the last quarter. Naples Global Advisors LLC lifted its position in Northrop Grumman by 50.3% in the 1st quarter. Naples Global Advisors LLC now owns 756 shares of the aerospace company’s stock valued at $362,000 after acquiring an additional 253 shares in the last quarter. Finally, Mayflower Financial Advisors LLC boosted its stake in Northrop Grumman by 48.8% during the 1st quarter. Mayflower Financial Advisors LLC now owns 964 shares of the aerospace company’s stock valued at $461,000 after purchasing an additional 316 shares during the last quarter. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.