Northrop Grumman (NYSE:NOC) Upgraded at Citigroup

Citigroup upgraded shares of Northrop Grumman (NYSE:NOC) from a neutral rating to a buy rating in a report issued on Tuesday, MarketBeat.com reports. They currently have $587.00 price target on the aerospace company’s stock.

NOC has been the subject of several other research reports. TD Cowen raised Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. UBS Group upped their price target on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 19th. JPMorgan Chase & Co. raised their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada lifted their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $550.94.

Northrop Grumman Stock Down 0.6 %

Shares of NOC opened at $499.56 on Tuesday. The firm has a market cap of $72.79 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 0.95 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The company’s fifty day moving average is $478.61 and its two-hundred day moving average is $495.36. Northrop Grumman has a fifty-two week low of $418.60 and a fifty-two week high of $555.57.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.18 earnings per share. Analysts forecast that Northrop Grumman will post 25.95 earnings per share for the current year.

Northrop Grumman Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Northrop Grumman announced that its board has initiated a share repurchase program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 1,255 shares of company stock valued at $663,859 in the last quarter. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Northrop Grumman

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC bought a new position in Northrop Grumman in the 3rd quarter worth $31,000. Albion Financial Group UT acquired a new stake in shares of Northrop Grumman in the fourth quarter valued at about $33,000. FSA Wealth Management LLC bought a new position in shares of Northrop Grumman in the third quarter worth about $36,000. Modus Advisors LLC acquired a new position in shares of Northrop Grumman during the 4th quarter worth about $38,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Northrop Grumman during the 3rd quarter valued at approximately $40,000. Institutional investors own 83.40% of the company’s stock.

About Northrop Grumman

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.