Northrop Grumman (NYSE:NOC)‘s stock had its “equal weight” rating reissued by stock analysts at Morgan Stanley in a research note issued to investors on Friday. They presently have a $365.00 price objective on the aerospace company’s stock, up from their prior price objective of $336.00. Morgan Stanley’s target price indicates a potential upside of 3.84% from the company’s current price.
A number of other analysts have also recently weighed in on the company. Zacks Investment Research cut Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Bank of America set a $350.00 price objective on Northrop Grumman and gave the stock a “buy” rating in a research report on Friday, October 27th. ValuEngine raised Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. JPMorgan Chase & Co. raised Northrop Grumman from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $317.00 to $355.00 in a research report on Tuesday, December 12th. Finally, Royal Bank of Canada set a $374.00 price objective on Northrop Grumman and gave the stock a “buy” rating in a research report on Thursday, November 16th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $336.94.
Northrop Grumman (NYSE:NOC) traded up $2.91 during trading on Friday, reaching $351.51. The company’s stock had a trading volume of 845,013 shares, compared to its average volume of 1,140,000. Northrop Grumman has a 52 week low of $233.20 and a 52 week high of $358.84. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 2.04. The firm has a market cap of $61,190.00, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.51 and a beta of 0.82.
Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $0.07. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. The company had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same period last year, the firm earned $2.96 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. equities analysts predict that Northrop Grumman will post 15.2 EPS for the current year.
In related news, VP Michael A. Hardesty sold 2,941 shares of Northrop Grumman stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $351.06, for a total transaction of $1,032,467.46. Following the completion of the transaction, the vice president now directly owns 9,202 shares of the company’s stock, valued at $3,230,454.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Denise M. Peppard sold 2,539 shares of Northrop Grumman stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $335.12, for a total value of $850,869.68. Following the transaction, the vice president now directly owns 38,613 shares of the company’s stock, valued at $12,939,988.56. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. USS Investment Management Ltd raised its holdings in Northrop Grumman by 7.0% during the third quarter. USS Investment Management Ltd now owns 27,500 shares of the aerospace company’s stock worth $7,911,000 after purchasing an additional 1,800 shares during the last quarter. Wright Investors Service Inc. raised its holdings in Northrop Grumman by 12.9% during the fourth quarter. Wright Investors Service Inc. now owns 8,865 shares of the aerospace company’s stock worth $2,721,000 after purchasing an additional 1,014 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in Northrop Grumman during the third quarter worth $3,433,000. Breton Hill Capital Ltd. increased its position in Northrop Grumman by 58.7% during the third quarter. Breton Hill Capital Ltd. now owns 1,904 shares of the aerospace company’s stock worth $548,000 after buying an additional 704 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Northrop Grumman by 6.3% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 41,529 shares of the aerospace company’s stock worth $11,949,000 after buying an additional 2,473 shares in the last quarter. 81.18% of the stock is owned by hedge funds and other institutional investors.
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Northrop Grumman Company Profile
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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