Wells Fargo & Company Increases Northrop Grumman (NYSE:NOC) Price Target to $547.00

Northrop Grumman (NYSE:NOC) had its price objective hoisted by investment analysts at Wells Fargo & Company from $545.00 to $547.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 14.01% from the company’s current price.

A number of other equities analysts have also commented on the stock. UBS Group reduced their target price on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Susquehanna decreased their target price on Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Truist Financial assumed coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 target price for the company. Barclays cut their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Citigroup upped their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $542.88.

Northrop Grumman Trading Up 1.0 %

Northrop Grumman stock traded up $4.58 during mid-day trading on Friday, hitting $479.78. The company’s stock had a trading volume of 59,992 shares, compared to its average volume of 974,015. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The company has a 50 day moving average of $469.56 and a 200-day moving average of $495.32. Northrop Grumman has a one year low of $418.60 and a one year high of $555.57. The stock has a market cap of $69.45 billion, a PE ratio of 16.97, a P/E/G ratio of 3.73 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. On average, research analysts anticipate that Northrop Grumman will post 28.05 EPS for the current year.

Northrop Grumman announced that its Board of Directors has approved a share repurchase program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding 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 typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the sale, the chief executive officer now directly owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Benjamin R. Davies sold 192 shares of Northrop Grumman stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the sale, the vice president now directly owns 709 shares of the company’s stock, valued at $304,217.72. The trade was a 21.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,505 shares of company stock worth $2,126,405. 0.22% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northrop Grumman

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Northrop Grumman in the third quarter valued at approximately $31,000. Whipplewood Advisors LLC acquired a new stake in Northrop Grumman in the 4th quarter valued at about $31,000. FSA Wealth Management LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter valued at about $36,000. Wood Tarver Financial Group LLC acquired a new position in Northrop Grumman during the 4th quarter worth approximately $32,000. Finally, Albion Financial Group UT acquired a new stake in shares of Northrop Grumman in the 4th quarter valued at $33,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Company Profile

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.