Northrop Grumman (NYSE:NOC)‘s stock had its “buy” rating reissued by equities research analysts at Citigroup in a note issued to investors on Monday. They presently have a $405.00 price target on the aerospace company’s stock. Citigroup’s price objective indicates a potential upside of 15.83% from the stock’s previous close.
Several other equities research analysts have also recently commented on the stock. ValuEngine raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $365.00 price objective (up from $336.00) on shares of Northrop Grumman in a research report on Friday, February 23rd. Goldman Sachs Group cut shares of Northrop Grumman from a “conviction-buy” rating to a “buy” rating and set a $395.00 price objective on the stock. in a research report on Tuesday, February 20th. Jefferies Group raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $400.00 price objective on the stock in a research report on Wednesday, February 14th. Finally, Argus raised shares of Northrop Grumman to a “buy” rating in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $358.64.
Northrop Grumman (NOC) opened at $349.64 on Monday. Northrop Grumman has a fifty-two week low of $233.20 and a fifty-two week high of $359.43. The stock has a market cap of $60,867.99, a price-to-earnings ratio of 30.48, a PEG ratio of 2.51 and a beta of 0.78. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.35 and a quick ratio of 2.24.
In other news, VP Denise M. Peppard sold 2,539 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $335.12, for a total value of $850,869.68. Following the sale, the vice president now directly owns 38,613 shares of the company’s stock, valued at approximately $12,939,988.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael A. Hardesty sold 2,941 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $351.06, for a total transaction of $1,032,467.46. Following the completion of the sale, the vice president now directly owns 9,202 shares in the company, valued at $3,230,454.12. The disclosure for this sale can be found here. Insiders have sold a total of 8,344 shares of company stock worth $2,896,627 over the last three months. Insiders own 0.70% of the company’s stock.
Several hedge funds have recently modified their holdings of NOC. BlackRock Inc. grew its stake in Northrop Grumman by 2,871.7% in the 1st quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock valued at $3,038,501,000 after buying an additional 12,345,491 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Northrop Grumman by 41,518.7% during the 2nd quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock worth $749,585,000 after purchasing an additional 2,912,953 shares in the last quarter. FMR LLC grew its position in shares of Northrop Grumman by 42.1% during the 4th quarter. FMR LLC now owns 7,786,442 shares of the aerospace company’s stock worth $1,810,970,000 after purchasing an additional 2,307,519 shares in the last quarter. Lone Pine Capital LLC acquired a new position in shares of Northrop Grumman during the 4th quarter worth approximately $402,561,000. Finally, Alliancebernstein L.P. grew its position in shares of Northrop Grumman by 64.6% during the 1st quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock worth $749,119,000 after purchasing an additional 1,235,985 shares in the last quarter. 80.69% of the stock is currently owned by institutional investors.
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.
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