Northrop Grumman (NYSE:NOC) has received a consensus rating of “Buy” from the twenty research firms that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $364.63.
NOC has been the topic of a number of recent research reports. Sanford C. Bernstein reduced their target price on shares of Northrop Grumman from $369.00 to $352.00 and set a “market perform” rating on the stock in a research report on Thursday, April 26th. Jefferies Group upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $400.00 price target for the company in a research note on Wednesday, February 14th. Royal Bank of Canada set a $389.00 price target on shares of Northrop Grumman and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Credit Suisse Group lifted their price target on shares of Northrop Grumman from $331.00 to $342.00 and gave the stock a “neutral” rating in a research note on Thursday, April 26th. Finally, Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $386.00 price target for the company in a research note on Thursday, March 29th.
NYSE NOC opened at $329.02 on Thursday. Northrop Grumman has a 52 week low of $247.60 and a 52 week high of $360.88. The company has a debt-to-equity ratio of 1.87, a quick ratio of 2.45 and a current ratio of 2.52. The firm has a market cap of $57.38 billion, a PE ratio of 23.74, a PEG ratio of 2.26 and a beta of 0.78.
Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, April 25th. The aerospace company reported $4.21 EPS for the quarter, topping analysts’ consensus estimates of $3.63 by $0.58. Northrop Grumman had a net margin of 8.05% and a return on equity of 35.83%. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the company posted $3.63 earnings per share. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. equities research analysts anticipate that Northrop Grumman will post 15.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Monday, June 4th will be paid a dividend of $1.20 per share. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, June 1st. This represents a $4.80 annualized dividend and a yield of 1.46%. Northrop Grumman’s payout ratio is presently 33.13%.
In other Northrop Grumman news, VP Janis G. Pamiljans sold 955 shares of the business’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $338.85, for a total transaction of $323,601.75. Following the completion of the sale, the vice president now owns 10,466 shares in the company, valued at $3,546,404.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Michael A. Hardesty sold 1,296 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $353.20, for a total transaction of $457,747.20. Following the sale, the vice president now owns 6,677 shares of the company’s stock, valued at approximately $2,358,316.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,760 shares of company stock valued at $2,369,359. 0.62% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Starfire Investment Advisers Inc. bought a new position in shares of Northrop Grumman during the fourth quarter worth about $279,000. Davis R M Inc. grew its position in shares of Northrop Grumman by 5.1% during the fourth quarter. Davis R M Inc. now owns 45,578 shares of the aerospace company’s stock worth $13,988,000 after acquiring an additional 2,201 shares during the last quarter. National Pension Service grew its position in shares of Northrop Grumman by 2.3% during the fourth quarter. National Pension Service now owns 147,903 shares of the aerospace company’s stock worth $45,393,000 after acquiring an additional 3,370 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in shares of Northrop Grumman during the fourth quarter worth about $232,000. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Northrop Grumman by 3.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 655,405 shares of the aerospace company’s stock worth $201,151,000 after acquiring an additional 20,812 shares during the last quarter. Hedge funds and other institutional investors own 80.27% of the company’s stock.
About Northrop Grumman
Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.
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