Northrop Grumman (NYSE:NOC) had its price target upped by equities research analysts at Morgan Stanley from $308.00 to $335.00 in a report issued on Friday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the aerospace company’s stock. Morgan Stanley’s price target points to a potential upside of 8.90% from the company’s current price.
NOC has been the subject of several other reports. Susquehanna Bancshares upgraded Northrop Grumman from a “neutral” rating to a “positive” rating and increased their target price for the company from $309.00 to $315.00 in a report on Friday, April 5th. UBS Group raised their price objective on Northrop Grumman from $290.00 to $300.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating in a research report on Tuesday, April 30th. Barclays increased their target price on Northrop Grumman from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, May 16th. Finally, ValuEngine upgraded Northrop Grumman from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $334.75.
Shares of NOC opened at $307.63 on Friday. The firm has a market capitalization of $51.76 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.22 and a beta of 0.79. 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 1 year low of $223.63 and a 1 year high of $330.00.
Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, April 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 return on equity of 41.42% and a net margin of 9.67%. The business’s revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the company posted $4.21 earnings per share. Research analysts anticipate that Northrop Grumman will post 19.42 earnings per share for the current fiscal year.
In other news, Chairman Wesley G. Bush sold 50,000 shares of Northrop Grumman stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $291.59, for a total value of $14,579,500.00. Following the sale, the chairman now directly owns 46,275 shares of the company’s stock, valued at $13,493,327.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Madeleine Kleiner sold 971 shares of Northrop Grumman stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $315.16, for a total value of $306,020.36. Following the completion of the sale, the director now directly owns 16,675 shares in the company, valued at $5,255,293. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,903 shares of company stock worth $15,484,440. Insiders own 0.45% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in NOC. Laurel Wealth Advisors LLC acquired a new position in shares of Northrop Grumman during the fourth quarter worth $27,000. Trustcore Financial Services LLC acquired a new position in shares of Northrop Grumman during the first quarter worth $27,000. Glassman Wealth Services increased its position in shares of Northrop Grumman by 203.0% during the first quarter. Glassman Wealth Services now owns 100 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 67 shares in the last quarter. Kore Private Wealth LLC acquired a new position in shares of Northrop Grumman during the first quarter worth $27,000. Finally, Truvestments Capital LLC acquired a new position in shares of Northrop Grumman during the first quarter worth $28,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.
Northrop Grumman Company Profile
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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