Northrop Grumman Coverage Initiated by Analysts at Wolfe Research (NOC)
Stock analysts at Wolfe Research initiated coverage on shares of Northrop Grumman (NYSE:NOC) in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating on the stock.
In other Northrop Grumman news, CEO Wesley Bush unloaded 30,000 shares of the stock on the open market in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $121.10, for a total value of $3,633,000.00. Following the completion of the sale, the chief executive officer now directly owns 30,000 shares in the company, valued at approximately $3,633,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Northrop Grumman (NYSE:NOC) opened at 122.44 on Tuesday. Northrop Grumman has a one year low of $77.35 and a one year high of $126.00. The stock has a 50-day moving average of $120.7 and a 200-day moving average of $116.1. The company has a market cap of $26.219 billion and a P/E ratio of 13.55.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $2.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.15 by $0.25. The company had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter last year, the company posted $2.03 earnings per share. Northrop Grumman’s revenue was down 4.2% compared to the same quarter last year. Analysts expect that Northrop Grumman will post $9.23 EPS for the current fiscal year.
A number of other firms have also recently commented on NOC. Analysts at CRT Capital reiterated a “fairly valued” rating on shares of Northrop Grumman in a research note on Thursday, April 24th. They now have a $114.00 price target on the stock. Separately, analysts at Credit Suisse reiterated a “neutral” rating on shares of Northrop Grumman in a research note on Thursday, April 24th. They now have a $128.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Northrop Grumman in a research note on Thursday, April 24th. They now have a $151.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $124.53.
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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