Northrop Grumman (NYSE:NOC) had its target price upped by equities research analysts at Morgan Stanley from $336.00 to $365.00 in a report issued on Friday. The brokerage currently has an “equal weight” rating on the aerospace company’s stock. Morgan Stanley’s target price indicates a potential upside of 4.45% from the stock’s previous close.
A number of other equities analysts also recently issued reports on NOC. Royal Bank of Canada raised their price objective on Northrop Grumman from $324.00 to $347.00 and gave the stock an “outperform” rating in a research report on Thursday, October 26th. Goldman Sachs Group set a $320.00 price objective on Northrop Grumman and gave the stock a “buy” rating in a research report on Thursday, October 26th. Cowen restated a “hold” rating and set a $300.00 price objective (up from $275.00) on shares of Northrop Grumman in a research report on Thursday, October 26th. Stifel Nicolaus raised their price objective on Northrop Grumman from $255.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, 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. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $336.94.
Northrop Grumman (NOC) traded up $0.81 during trading on Friday, reaching $349.44. The company’s stock had a trading volume of 350,680 shares, compared to its average volume of 1,054,583. 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 company has a market capitalization of $60,680.00, a P/E ratio of 26.52, a PEG ratio of 2.52 and a beta of 0.82. Northrop Grumman has a 1 year low of $233.20 and a 1 year high of $358.84.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 the consensus estimate of $6.34 billion. During the same period last year, the company earned $2.96 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. equities research analysts forecast that Northrop Grumman will post 15.2 EPS for the current year.
In related news, VP Denise M. Peppard sold 2,539 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $335.12, for a total transaction of $850,869.68. Following the completion of the sale, the vice president now owns 38,613 shares of the company’s stock, valued at $12,939,988.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael A. Hardesty sold 2,941 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $351.06, for a total value of $1,032,467.46. Following the sale, the vice president now directly owns 9,202 shares of the company’s stock, valued at approximately $3,230,454.12. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Icon Wealth Partners LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at approximately $100,000. Truewealth LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at approximately $110,000. Ropes Wealth Advisors LLC acquired a new stake in Northrop Grumman in the third quarter valued at approximately $144,000. Crewe Advisors LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at approximately $159,000. Finally, Moisand Fitzgerald Tamayo LLC acquired a new stake in Northrop Grumman in the third quarter valued at approximately $154,000. 81.18% of the stock is owned by hedge funds and other institutional investors.
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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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