Northrop Grumman (NYSE:NOC) was downgraded by investment analysts at Goldman Sachs Group from a “conviction-buy” rating to a “buy” rating in a report released on Tuesday. They presently have a $395.00 price objective on the aerospace company’s stock. Goldman Sachs Group’s target price points to a potential upside of 12.59% from the stock’s previous close.
A number of other research firms have also recently issued reports on NOC. Cowen reiterated a “hold” rating and issued a $300.00 target price (up from $275.00) on shares of Northrop Grumman in a research note on Thursday, October 26th. Royal Bank of Canada set a $374.00 target price on shares of Northrop Grumman and gave the company a “buy” rating in a research note on Thursday, November 16th. Bank of America set a $350.00 target price on shares of Northrop Grumman and gave the company a “buy” rating in a research note on Friday, October 27th. Jefferies Group upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Wednesday, February 14th. Finally, Zacks Investment Research cut shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $331.21.
Northrop Grumman (NYSE NOC) opened at $350.82 on Tuesday. Northrop Grumman has a 1 year low of $233.20 and a 1 year high of $358.84. The company has a market cap of $61,070.00, a P/E ratio of 26.62, a P/E/G ratio of 2.56 and a beta of 0.82. The company has a current ratio of 2.35, a quick ratio of 2.24 and a debt-to-equity ratio of 2.04.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.82 EPS for the quarter, beating the Zacks’ consensus estimate of $2.75 by $0.07. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same period in the previous year, the firm posted $2.96 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. equities analysts anticipate that Northrop Grumman will post 15.2 EPS for the current fiscal year.
In other news, VP Denise M. Peppard sold 2,539 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $335.12, for a total value of $850,869.68. Following the completion of the sale, the vice president now directly owns 38,613 shares in the company, valued at $12,939,988.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Icon Wealth Partners LLC acquired a new position in Northrop Grumman during the 4th quarter valued at $100,000. Truewealth LLC acquired a new position in Northrop Grumman during the 4th quarter valued at $110,000. Ropes Wealth Advisors LLC acquired a new position in Northrop Grumman during the 3rd quarter valued at $144,000. Moisand Fitzgerald Tamayo LLC acquired a new position in Northrop Grumman during the 3rd quarter valued at $154,000. Finally, Crewe Advisors LLC acquired a new position in Northrop Grumman during the 4th quarter valued at $159,000. Institutional investors and hedge funds own 81.18% of the company’s stock.
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About Northrop Grumman
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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