Jefferies Financial Group Lowers Northrop Grumman (NYSE:NOC) Price Target to $500.00

Northrop Grumman (NYSE:NOC) had its target price cut by stock analysts at Jefferies Financial Group from $530.00 to $500.00 in a research note issued on Tuesday. The firm currently has a “hold” rating on the aerospace company’s stock. Jefferies Financial Group’s target price would suggest a potential upside of 17.42% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Wells Fargo & Company increased their target price on Northrop Grumman from $483.00 to $518.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 30th. Alembic Global Advisors upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price target on the stock in a report on Monday, April 22nd. Finally, Robert W. Baird upped their price objective on Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Northrop Grumman presently has an average rating of “Hold” and a consensus target price of $513.23.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $425.83 on Tuesday. The stock’s fifty day simple moving average is $459.14 and its 200 day simple moving average is $461.53. The company has a current ratio of 1.13, a quick ratio of 1.02 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $63.02 billion, a PE ratio of 29.78, a PEG ratio of 2.00 and a beta of 0.35. Northrop Grumman has a 12 month low of $414.56 and a 12 month high of $496.89.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 EPS for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The company had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same quarter last year, the firm posted $5.50 earnings per share. Northrop Grumman’s revenue was up 8.9% compared to the same quarter last year. On average, research analysts predict that Northrop Grumman will post 24.7 EPS for the current year.

Institutional Trading of Northrop Grumman

A number of large investors have recently added to or reduced their stakes in NOC. Capital International Investors raised its stake in Northrop Grumman by 5.6% in the 1st quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock valued at $5,623,128,000 after acquiring an additional 621,636 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Northrop Grumman during the 4th quarter worth about $283,114,000. JPMorgan Chase & Co. lifted its stake in shares of Northrop Grumman by 10.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,488,412 shares of the aerospace company’s stock worth $1,975,754,000 after buying an additional 410,736 shares during the last quarter. London Co. of Virginia bought a new stake in shares of Northrop Grumman during the 3rd quarter worth about $165,786,000. Finally, Cerity Partners LLC grew its stake in Northrop Grumman by 2,801.7% in the 4th quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock valued at $154,720,000 after buying an additional 319,109 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.