Northrop Grumman Co. (NYSE:NOC – Get Rating) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $536.92.
Several equities research analysts have issued reports on the company. Robert W. Baird increased their price target on Northrop Grumman from $529.00 to $570.00 in a report on Friday, October 28th. Credit Suisse Group increased their target price on Northrop Grumman to $575.00 in a research note on Tuesday, November 1st. Cowen increased their target price on Northrop Grumman to $570.00 in a research note on Tuesday, November 1st. Morgan Stanley raised their price objective on Northrop Grumman from $530.00 to $585.00 and gave the stock an “overweight” rating in a research note on Thursday, November 10th. Finally, JPMorgan Chase & Co. lowered Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $490.00 price target on the stock. in a research note on Friday, October 14th.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Grayhawk Investment Strategies Inc. acquired a new position in Northrop Grumman during the 2nd quarter worth about $25,000. Lansing Street Advisors acquired a new position in Northrop Grumman during the 1st quarter worth about $25,000. Kings Point Capital Management raised its position in shares of Northrop Grumman by 83.3% in the 1st quarter. Kings Point Capital Management now owns 55 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 25 shares in the last quarter. Charter Oak Capital Management LLC bought a new position in shares of Northrop Grumman in the 2nd quarter worth about $31,000. Finally, Core Alternative Capital raised its position in shares of Northrop Grumman by 666.7% in the 1st quarter. Core Alternative Capital now owns 69 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 60 shares in the last quarter. 83.91% of the stock is owned by institutional investors and hedge funds.
Northrop Grumman Trading Down 0.4 %
Northrop Grumman Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Monday, November 28th will be issued a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, November 25th. Northrop Grumman’s dividend payout ratio (DPR) is 19.66%.
About Northrop Grumman
Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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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