Northrop Grumman Corporation (NOC) Receives Average Recommendation of “Buy” from Analysts
Shares of Northrop Grumman Corporation (NYSE:NOC) have earned a consensus rating of “Buy” from the seventeen brokerages that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $274.24.
Several research analysts recently issued reports on NOC shares. Zacks Investment Research cut shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and issued a $309.00 price target on shares of Northrop Grumman Corporation in a report on Wednesday, August 23rd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $285.00 price target (up from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Royal Bank Of Canada set a $294.00 price target on shares of Northrop Grumman Corporation and gave the company a “buy” rating in a report on Tuesday, August 29th. Finally, BidaskClub raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th.
Shares of Northrop Grumman Corporation (NYSE NOC) traded up 0.38% on Wednesday, hitting $292.18. 572,253 shares of the stock traded hands. Northrop Grumman Corporation has a one year low of $212.02 and a one year high of $292.61. The stock has a 50 day moving average of $273.82 and a 200 day moving average of $258.58. The company has a market cap of $50.87 billion, a PE ratio of 22.32 and a beta of 0.68.
Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, beating the consensus estimate of $2.84 by $0.31. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.85 EPS. Equities analysts anticipate that Northrop Grumman Corporation will post $12.55 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 28th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, August 24th. Northrop Grumman Corporation’s dividend payout ratio (DPR) is presently 30.56%.
In other news, VP Lisa R. Davis sold 367 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following the transaction, the vice president now owns 961 shares in the company, valued at approximately $252,983.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC acquired a new stake in Northrop Grumman Corporation in the 1st quarter worth about $108,000. Hanseatic Management Services Inc. increased its stake in Northrop Grumman Corporation by 12.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock worth $109,000 after buying an additional 48 shares in the last quarter. First Personal Financial Services increased its stake in Northrop Grumman Corporation by 39.0% during the 2nd quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock worth $111,000 after buying an additional 121 shares in the last quarter. Pittenger & Anderson Inc. increased its stake in Northrop Grumman Corporation by 28.6% during the 2nd quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock worth $116,000 after buying an additional 100 shares in the last quarter. Finally, People s United Financial Inc. increased its stake in Northrop Grumman Corporation by 9.2% during the 2nd quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock worth $122,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 81.37% of the company’s stock.
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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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