Northrop Grumman (NYSE:NOC) has been assigned a consensus recommendation of “Buy” from the twenty brokerages that are covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $362.00.
A number of analysts have recently commented on the company. Sanford C. Bernstein cut their price target on Northrop Grumman from $369.00 to $352.00 and set a “market perform” rating on the stock in a report on Thursday, April 26th. Credit Suisse Group upped their target price on Northrop Grumman from $331.00 to $342.00 and gave the stock a “neutral” rating in a report on Thursday, April 26th. ValuEngine lowered Northrop Grumman from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Royal Bank of Canada set a $389.00 target price on Northrop Grumman and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, Argus upped their target price on Northrop Grumman to $375.00 and gave the stock a “positive” rating in a report on Monday, February 5th.
In other news, VP Janis G. Pamiljans sold 1,568 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $354.30, for a total value of $555,542.40. Following the transaction, the vice president now owns 6,677 shares of the company’s stock, valued at $2,365,661.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael A. Hardesty sold 2,941 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $351.06, for a total value of $1,032,467.46. Following the completion of the sale, the vice president now owns 9,202 shares of the company’s stock, valued at $3,230,454.12. The disclosure for this sale can be found here. Insiders sold 6,760 shares of company stock worth $2,369,359 in the last ninety days. 0.62% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of NOC. Starfire Investment Advisers Inc. bought a new stake in shares of Northrop Grumman in the fourth quarter valued at approximately $279,000. Davis R M Inc. lifted its stake in 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 purchasing an additional 2,201 shares during the last quarter. National Pension Service lifted its stake in 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 purchasing an additional 3,370 shares during the last quarter. Koshinski Asset Management Inc. bought a new stake in Northrop Grumman during the fourth quarter worth $232,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in 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 purchasing an additional 20,812 shares during the last quarter. Institutional investors and hedge funds own 80.27% of the company’s stock.
Shares of Northrop Grumman traded up $4.54, reaching $325.70, during trading on Thursday, MarketBeat reports. The stock had a trading volume of 48,072 shares, compared to its average volume of 1,090,085. The firm has a market cap of $55.80 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 2.20 and a beta of 0.78. Northrop Grumman has a 52 week low of $320.22 and a 52 week high of $324.92. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.52 and a quick ratio of 2.45.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Wednesday, April 25th. The aerospace company reported $4.21 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.58. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.62 billion. Northrop Grumman had a return on equity of 35.83% and a net margin of 8.05%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.63 earnings per share. equities analysts expect that Northrop Grumman will post 15.89 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Monday, June 4th will be given a $1.20 dividend. This is an increase 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 dividend yield of 1.47%. Northrop Grumman’s dividend payout ratio is presently 33.13%.
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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