Northrop Grumman (NYSE:NOC) had its target price hoisted by stock analysts at Barclays from $325.00 to $340.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the aerospace company’s stock. Barclays‘s price objective points to a potential upside of 15.00% from the company’s previous close.
Several other equities analysts also recently commented on NOC. Credit Suisse Group reiterated a “buy” rating on shares of Northrop Grumman in a report on Thursday, January 31st. Zacks Investment Research downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. Morgan Stanley increased their price target on Northrop Grumman from $305.00 to $308.00 and gave the company an “equal weight” rating in a report on Wednesday, February 13th. Cowen reiterated a “hold” rating and set a $300.00 price target on shares of Northrop Grumman in a report on Thursday, January 31st. Finally, Goldman Sachs Group downgraded Northrop Grumman from a “conviction-buy” rating to a “buy” rating in a report on Friday, February 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $338.82.
Shares of NOC opened at $295.64 on Thursday. The company has a market cap of $50.17 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 1.19 and a beta of 0.89. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.10 and a current ratio of 1.18. Northrop Grumman has a twelve month low of $223.63 and a twelve month high of $340.14.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $5.06 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.47. The firm had revenue of $8.19 billion for the quarter, compared to analyst estimates of $8.34 billion. Northrop Grumman had a net margin of 9.67% and a return on equity of 41.42%. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter last year, the firm earned $4.21 earnings per share. Analysts predict that Northrop Grumman will post 19.39 earnings per share for the current year.
In other news, CAO Michael A. Hardesty sold 259 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $288.38, for a total value of $74,690.42. Following the sale, the chief accounting officer now owns 6,253 shares in the company, valued at $1,803,240.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP David T. Perry sold 13,210 shares of the firm’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $288.94, for a total transaction of $3,816,897.40. Following the completion of the sale, the vice president now owns 25,100 shares in the company, valued at approximately $7,252,394. The disclosure for this sale can be found here. In the last 90 days, insiders sold 169,197 shares of company stock worth $48,826,976. 0.45% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in NOC. Millennium Management LLC grew its stake in shares of Northrop Grumman by 198.8% in the fourth quarter. Millennium Management LLC now owns 568,441 shares of the aerospace company’s stock worth $139,211,000 after acquiring an additional 378,176 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Northrop Grumman by 7.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,072,281 shares of the aerospace company’s stock worth $1,242,203,000 after acquiring an additional 355,364 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Northrop Grumman by 5,821.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 263,566 shares of the aerospace company’s stock worth $64,547,000 after acquiring an additional 259,115 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Northrop Grumman by 44.3% in the fourth quarter. California Public Employees Retirement System now owns 820,741 shares of the aerospace company’s stock worth $200,999,000 after acquiring an additional 251,945 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Northrop Grumman in the first quarter worth $50,253,000. Institutional investors and hedge funds own 83.67% of the company’s stock.
About Northrop Grumman
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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