A number of other equities analysts also recently issued reports on the stock. UBS Group increased their price target on shares of Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Bank of America reissued a “buy” rating and issued a $405.00 price target (up from $355.00) on shares of Northrop Grumman in a research note on Thursday, July 25th. Morgan Stanley raised shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $335.00 to $418.00 in a research note on Tuesday, August 6th. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $377.00 target price for the company in a research note on Tuesday. Finally, Robert W. Baird raised their target price on shares of Northrop Grumman from $300.00 to $364.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $347.60.
NOC stock traded up $4.47 during trading on Tuesday, reaching $363.32. The company had a trading volume of 28,280 shares, compared to its average volume of 909,665. Northrop Grumman has a 52 week low of $223.63 and a 52 week high of $377.34. The company has a market cap of $60.21 billion, a P/E ratio of 16.98, a PEG ratio of 1.46 and a beta of 0.79. The business has a 50 day moving average of $361.49 and a 200 day moving average of $313.26. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.25 and a quick ratio of 1.15.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.64 by $0.42. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.41 billion. During the same period in the prior year, the firm earned $4.50 earnings per share. Northrop Grumman’s revenue was up 18.8% on a year-over-year basis. Research analysts expect that Northrop Grumman will post 19.63 earnings per share for the current year.
In related news, VP Christopher T. Jones sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $353.19, for a total transaction of $1,765,950.00. Following the completion of the sale, the vice president now owns 67,422 shares of the company’s stock, valued at $23,812,776.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kathy J. Warden sold 6,837 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the sale, the chief executive officer now directly owns 99,002 shares of the company’s stock, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Northrop Grumman during the second quarter valued at approximately $9,784,000. Trust Co. of Toledo NA OH purchased a new stake in Northrop Grumman in the first quarter worth approximately $231,000. Sullivan Bruyette Speros & Blaney LLC boosted its holdings in Northrop Grumman by 4.8% in the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 1,495 shares of the aerospace company’s stock worth $483,000 after purchasing an additional 69 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in Northrop Grumman by 1.1% in the first quarter. Westwood Holdings Group Inc. now owns 245,284 shares of the aerospace company’s stock worth $66,128,000 after purchasing an additional 2,777 shares during the last quarter. Finally, Merit Financial Group LLC boosted its holdings in Northrop Grumman by 26.6% in the first quarter. Merit Financial Group LLC now owns 1,462 shares of the aerospace company’s stock worth $394,000 after purchasing an additional 307 shares during the last quarter. 83.11% of the stock is owned by institutional investors.
Northrop Grumman Company Profile
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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