Northrop Grumman (NOC) Upgraded by J P Morgan Chase & Co to Overweight

Northrop Grumman (NYSE:NOC) was upgraded by equities researchers at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a research report issued on Tuesday, Marketbeat.com reports. The firm presently has a $355.00 price objective on the aerospace company’s stock, up from their previous price objective of $317.00. J P Morgan Chase & Co’s target price would indicate a potential upside of 14.34% from the company’s previous close.

Several other equities research analysts also recently issued reports on NOC. Goldman Sachs Group restated a “conviction-buy” rating and set a $309.00 price objective on shares of Northrop Grumman in a report on Wednesday, August 23rd. Cowen restated a “hold” rating and set a $275.00 price objective on shares of Northrop Grumman in a report on Thursday, August 24th. Royal Bank of Canada set a $294.00 price objective on Northrop Grumman and gave the stock a “buy” rating in a report on Tuesday, August 29th. Zacks Investment Research downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Finally, Vertical Research restated a “buy” rating and set a $296.00 price objective (up from $280.00) on shares of Northrop Grumman in a report on Wednesday, September 20th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $298.67.

Northrop Grumman (NYSE NOC) traded up $3.56 during mid-day trading on Tuesday, reaching $310.47. The company’s stock had a trading volume of 1,216,355 shares, compared to its average volume of 799,160. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.96. Northrop Grumman has a 52 week low of $223.88 and a 52 week high of $311.15. The stock has a market cap of $54,053.13, a P/E ratio of 23.67, a PEG ratio of 3.12 and a beta of 0.69.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.76. Northrop Grumman had a return on equity of 39.76% and a net margin of 9.24%. The company had revenue of $6.53 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the previous year, the business earned $3.35 EPS. Northrop Grumman’s revenue for the quarter was up 6.0% compared to the same quarter last year. equities research analysts anticipate that Northrop Grumman will post 13.18 EPS for the current fiscal year.

In other news, COO Gloria A. Flach sold 7,741 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $296.45, for a total value of $2,294,819.45. Following the completion of the sale, the chief operating officer now directly owns 77,200 shares in the company, valued at approximately $22,885,940. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Denise M. Peppard sold 5,037 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $295.67, for a total value of $1,489,289.79. Following the completion of the sale, the vice president now owns 58,186 shares of the company’s stock, valued at $17,203,854.62. 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. Company insiders own 0.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Hanseatic Management Services Inc. boosted its position in Northrop Grumman by 12.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock valued at $109,000 after purchasing an additional 48 shares during the period. First Personal Financial Services boosted its position in Northrop Grumman by 39.0% during the 2nd quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock valued at $111,000 after purchasing an additional 121 shares during the period. Pittenger & Anderson Inc. boosted its position in Northrop Grumman by 28.6% during the 2nd quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock valued at $116,000 after purchasing an additional 100 shares during the period. People s United Financial Inc. boosted its position in Northrop Grumman by 9.2% during the 2nd quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock valued at $122,000 after purchasing an additional 40 shares during the period. Finally, Ropes Wealth Advisors LLC acquired a new position in Northrop Grumman during the 3rd quarter valued at approximately $144,000. Institutional investors and hedge funds own 81.33% 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.