Northrop Grumman Corp. Rating Increased to Neutral at UBS AG (NOC)
Northrop Grumman Corp. (NYSE:NOC) was upgraded by UBS AG from a “sell” rating to a “neutral” rating in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $94.00 price objective on the stock, up from their previous price objective of $78.00. UBS AG’s price objective points to a potential downside of 0.58% from the company’s current price.
A number of other analysts have also recently weighed in on NOC. Analysts at Barclays Capital raised their price target on shares of Northrop Grumman Corp. from $69.00 to $95.00 in a research note to investors on Monday, August 12th. They now have an “equal weight” rating on the stock. Separately, analysts at Credit Suisse raised their price target on shares of Northrop Grumman Corp. from $78.00 to $94.00 in a research note to investors on Friday, July 26th. They now have a “neutral” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Northrop Grumman Corp. from $87.00 to $97.00 in a research note to investors on Friday, July 26th. They now have a “market perform” rating on the stock.
Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $91.08.
Northrop Grumman Corp. (NYSE:NOC) traded down 0.02% on Monday, hitting $94.55. The stock had a trading volume of 1,038,800 shares. Northrop Grumman Corp. has a 52 week low of $62.80 and a 52 week high of $96.42. The stock’s 50-day moving average is $91.32 and its 200-day moving average is $78.43. The company has a market cap of $21.762 billion and a P/E ratio of 11.75.
Northrop Grumman Corp. (NYSE:NOC) last announced its earnings results on Wednesday, July 24th. The company reported $2.05 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.72 by $0.33. The company had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $5.96 billion. During the same quarter last year, the company posted $1.88 earnings per share. Northrop Grumman Corp.’s revenue was up .3% compared to the same quarter last year. On average, analysts predict that Northrop Grumman Corp. will post $7.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Thursday, August 29th.
In other Northrop Grumman Corp. news, VP David Perry sold 1,900 shares of Northrop Grumman Corp. stock in a transaction that occured on Monday, August 12th. The shares were sold at an average price of $94.96, for a total transaction of $180,424.00. Following the sale, the vice president now directly owns 4,960 shares of the company’s stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Northrop Grumman Corporation (NYSE:NOC) provides products, services, and integrated solutions in aerospace, electronics, information and services to its global customers.
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