Northrop Grumman (NYSE:NOC) had its price objective lowered by Credit Suisse Group from $342.00 to $326.00 in a research note released on Tuesday morning. Credit Suisse Group currently has a neutral rating on the aerospace company’s stock.
Other research analysts also recently issued reports about the stock. Jefferies Group upgraded shares of Northrop Grumman from a hold rating to a buy rating and set a $400.00 price target on the stock in a research report on Wednesday, February 14th. Sanford C. Bernstein decreased their price target 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. ValuEngine downgraded shares of Northrop Grumman from a buy rating to a hold rating in a research report on Friday, April 27th. Barclays began coverage on shares of Northrop Grumman in a research report on Thursday, March 29th. They issued an overweight rating and a $400.00 price target on the stock. Finally, 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 report on Tuesday, January 23rd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $364.29.
Northrop Grumman opened at $324.50 on Tuesday, according to Marketbeat Ratings. The company has a debt-to-equity ratio of 1.87, a quick ratio of 2.45 and a current ratio of 2.52. Northrop Grumman has a 1-year low of $248.58 and a 1-year high of $360.88. The company has a market capitalization of $57.38 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 2.26 and a beta of 0.78.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Wednesday, April 25th. The aerospace company reported $4.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 the consensus estimate of $6.62 billion. During the same period last year, the firm earned $3.63 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. equities analysts anticipate that Northrop Grumman will post 15.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Monday, June 4th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.48%. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, June 1st. Northrop Grumman’s dividend payout ratio (DPR) is presently 33.13%.
In other Northrop Grumman news, VP Janis G. Pamiljans sold 955 shares of Northrop Grumman stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $338.85, for a total value of $323,601.75. Following the sale, the vice president now directly owns 10,466 shares in the company, valued at approximately $3,546,404.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael A. Hardesty sold 1,296 shares of Northrop Grumman 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 completion of the sale, the vice president now owns 6,677 shares in the company, valued at $2,358,316.40. The disclosure for this sale can be found here. Insiders have sold a total of 3,819 shares of company stock worth $1,336,891 over the last 90 days. Insiders own 0.62% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in NOC. Icon Wealth Partners LLC bought a new stake in Northrop Grumman in the 4th quarter valued at $100,000. Truewealth LLC bought a new stake in Northrop Grumman in the 4th quarter valued at $110,000. Centaurus Financial Inc. bought a new stake in Northrop Grumman in the 1st quarter valued at $147,000. Optimum Investment Advisors bought a new stake in Northrop Grumman in the 1st quarter valued at $154,000. Finally, Crewe Advisors LLC bought a new stake in Northrop Grumman in the 4th quarter valued at $159,000. Institutional investors own 81.63% 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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