Brokerages Set Northrop Grumman Co. (NYSE:NOC) Target Price at $545.31

Northrop Grumman Co. (NYSE:NOCGet Free Report) has received an average rating of “Moderate Buy” from the eighteen analysts that are currently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $545.31.

Several brokerages have issued reports on NOC. Royal Bank of Canada dropped their target price on Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen cut Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Thursday, April 24th. Truist Financial cut their target price on Northrop Grumman from $600.00 to $550.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Susquehanna decreased their price target on shares of Northrop Grumman from $557.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. Finally, Morgan Stanley raised their price target on shares of Northrop Grumman from $580.00 to $625.00 and gave the company an “overweight” rating in a report on Wednesday, April 16th.

Get Our Latest Research Report on NOC

Insider Activity at Northrop Grumman

In related news, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $490.00, for a total transaction of $485,590.00. Following the completion of the sale, the vice president now owns 319 shares of the company’s stock, valued at $156,310. The trade was a 75.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,057 shares of company stock valued at $517,733 in the last ninety days. Company insiders own 0.23% of the company’s stock.

Hedge Funds Weigh In On Northrop Grumman

A number of institutional investors have recently bought and sold shares of the business. Lockheed Martin Investment Management Co. boosted its position in Northrop Grumman by 19.9% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 16,660 shares of the aerospace company’s stock worth $7,818,000 after purchasing an additional 2,770 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of Northrop Grumman by 12.8% in the fourth quarter. Schroder Investment Management Group now owns 8,857 shares of the aerospace company’s stock worth $4,132,000 after buying an additional 1,008 shares in the last quarter. Geode Capital Management LLC lifted its stake in Northrop Grumman by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 3,025,263 shares of the aerospace company’s stock worth $1,417,850,000 after purchasing an additional 21,903 shares in the last quarter. RFG Bristol Wealth Advisors LLC acquired a new position in Northrop Grumman during the fourth quarter worth $284,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Northrop Grumman by 74.4% during the 4th quarter. Teacher Retirement System of Texas now owns 156,149 shares of the aerospace company’s stock valued at $73,279,000 after acquiring an additional 66,638 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Stock Up 0.3%

Shares of NOC opened at $489.55 on Wednesday. The firm has a market capitalization of $70.46 billion, a P/E ratio of 17.27, a P/E/G ratio of 3.73 and a beta of 0.14. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. Northrop Grumman has a 12-month low of $418.60 and a 12-month high of $555.57. The firm has a fifty day moving average price of $491.04 and a 200-day moving average price of $482.45.

Northrop Grumman (NYSE:NOCGet Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.27). The firm had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $10.07 billion. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Equities research analysts expect that Northrop Grumman will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd will be paid a dividend of $2.31 per share. This is an increase from Northrop Grumman’s previous quarterly dividend of $2.06. This represents a $9.24 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Monday, June 2nd. Northrop Grumman’s payout ratio is presently 36.46%.

About Northrop Grumman

(Get Free Report

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.

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Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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