Northrop Grumman (NYSE:NOC) had its price objective hoisted by equities research analysts at Argus to $375.00 in a report released on Monday, The Fly reports. The firm currently has a “positive” rating on the aerospace company’s stock. Argus’ price objective suggests a potential upside of 11.35% from the company’s previous close.
Several other brokerages have also issued reports on NOC. Zacks Investment Research lowered Northrop Grumman from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Robert W. Baird reiterated a “buy” rating and set a $394.00 price target on shares of Northrop Grumman in a report on Friday, January 26th. Wells Fargo & Co upgraded Northrop Grumman from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 16th. Royal Bank of Canada set a $389.00 price target on Northrop Grumman and gave the company a “buy” rating in a report on Tuesday, January 23rd. Finally, Cowen reiterated a “hold” rating and set a $310.00 price target on shares of Northrop Grumman in a report on Thursday, January 25th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $317.47.
Shares of Northrop Grumman (NYSE:NOC) opened at $336.79 on Monday. The stock has a market capitalization of $58,630.96, a PE ratio of 29.36, a PEG ratio of 2.43 and a beta of 0.82. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.24 and a current ratio of 2.35. Northrop Grumman has a 1-year low of $229.51 and a 1-year high of $349.18.
In other news, COO Gloria A. Flach sold 7,741 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $296.45, for a total transaction of $2,294,819.45. Following the completion of the transaction, the chief operating officer now directly owns 77,200 shares in the company, valued at $22,885,940. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.70% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Cetera Investment Advisers lifted its holdings in shares of Northrop Grumman by 0.8% during the second quarter. Cetera Investment Advisers now owns 1,278 shares of the aerospace company’s stock worth $328,000 after buying an additional 10 shares during the last quarter. WFG Advisors LP lifted its holdings in shares of Northrop Grumman by 4.9% during the second quarter. WFG Advisors LP now owns 594 shares of the aerospace company’s stock worth $152,000 after buying an additional 28 shares during the last quarter. People s United Financial Inc. lifted its holdings in shares of Northrop Grumman by 9.2% during the second quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock worth $122,000 after buying an additional 40 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Northrop Grumman by 7.8% during the second quarter. Quadrant Capital Group LLC now owns 636 shares of the aerospace company’s stock worth $147,000 after buying an additional 46 shares during the last quarter. Finally, Scotia Capital Inc. lifted its holdings in shares of Northrop Grumman by 4.0% during the second quarter. Scotia Capital Inc. now owns 1,290 shares of the aerospace company’s stock worth $331,000 after buying an additional 50 shares during the last quarter. Institutional investors own 81.23% of the company’s stock.
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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.
