Royal Bank of Canada Reiterates “$389.00” Price Target for Northrop Grumman (NOC)

Northrop Grumman (NYSE:NOC) received a $389.00 target price from stock analysts at Royal Bank of Canada in a research note issued on Tuesday. The firm presently has a “buy” rating on the aerospace company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 24.09% from the company’s current price.

Other equities analysts have also issued research reports about the company. Deutsche Bank reaffirmed a “buy” rating and issued a $325.00 price target (up previously from $285.00) on shares of Northrop Grumman in a research note on Monday, October 2nd. Zacks Investment Research lowered Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Goldman Sachs Group set a $320.00 price target on Northrop Grumman and gave the company a “buy” rating in a research note on Thursday, October 26th. Wells Fargo & Co raised Northrop Grumman from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 16th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $315.00 price target on shares of Northrop Grumman in a research note on Tuesday, January 9th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $306.29.

Shares of Northrop Grumman (NOC) traded down $1.66 during trading hours on Tuesday, reaching $313.48. The company’s stock had a trading volume of 653,600 shares, compared to its average volume of 696,893. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.96. The stock has a market cap of $54,900.00, a PE ratio of 23.36, a P/E/G ratio of 2.88 and a beta of 0.69. Northrop Grumman has a 12 month low of $223.88 and a 12 month high of $318.70.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $6.33 billion. During the same period in the prior year, the business earned $3.35 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. analysts predict that Northrop Grumman will post 13.19 EPS for the current year.

In related news, VP Denise M. Peppard sold 2,328 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $300.86, for a total transaction of $700,402.08. Following the transaction, the vice president now owns 28,553 shares of the company’s stock, valued at approximately $8,590,455.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Sid Ashworth sold 6,311 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $298.00, for a total value of $1,880,678.00. Following the transaction, the vice president now directly owns 63,147 shares in the company, valued at approximately $18,817,806. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,417 shares of company stock worth $6,365,189. 0.70% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Hanseatic Management Services Inc. increased its holdings in shares of Northrop Grumman by 12.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock valued at $109,000 after acquiring an additional 48 shares during the last quarter. First Personal Financial Services increased its holdings in shares of Northrop Grumman by 39.0% in the 2nd quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock valued at $111,000 after acquiring an additional 121 shares during the last quarter. Pittenger & Anderson Inc. increased its holdings in shares of Northrop Grumman by 28.6% in the 2nd quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock valued at $116,000 after acquiring an additional 100 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in shares of Northrop Grumman in the 1st quarter valued at about $108,000. Finally, People s United Financial Inc. increased its holdings in shares of Northrop Grumman by 9.2% in the 2nd quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock valued at $122,000 after acquiring an additional 40 shares during the last quarter. 81.11% of the stock is currently owned by institutional investors.

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About Northrop Grumman

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.