Northrop Grumman (NYSE:NOC) Downgraded to Buy Rating by StockNews.com

Northrop Grumman (NYSE:NOC) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

NOC has been the topic of a number of other research reports. Susquehanna increased their target price on Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a report on Friday, October 25th. Citigroup raised their price objective on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted their target price on shares of Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. UBS Group raised their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Barclays boosted their price objective on shares of Northrop Grumman from $500.00 to $550.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $550.56.

Northrop Grumman Trading Up 0.2 %

Shares of NOC opened at $489.88 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. Northrop Grumman has a one year low of $418.60 and a one year high of $555.57. The stock has a 50-day moving average price of $517.20 and a 200 day moving average price of $487.24. The company has a market capitalization of $71.37 billion, a P/E ratio of 30.35, a P/E/G ratio of 0.99 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. During the same period in the prior year, the company posted $6.18 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Sell-side analysts forecast that Northrop Grumman will post 25.93 EPS for the current fiscal year.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares in the company, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 1,255 shares of company stock valued at $667,727. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Northrop Grumman

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOC. American Trust lifted its holdings in shares of Northrop Grumman by 37.6% in the third quarter. American Trust now owns 1,534 shares of the aerospace company’s stock valued at $810,000 after buying an additional 419 shares during the period. Franklin Resources Inc. lifted its holdings in Northrop Grumman by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock valued at $1,315,729,000 after acquiring an additional 141,816 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Northrop Grumman by 28.1% during the 3rd quarter. Synovus Financial Corp now owns 2,814 shares of the aerospace company’s stock valued at $1,485,000 after purchasing an additional 618 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Northrop Grumman by 41.8% in the 3rd quarter. Tidal Investments LLC now owns 5,403 shares of the aerospace company’s stock worth $2,853,000 after purchasing an additional 1,593 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of Northrop Grumman by 274.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,566 shares of the aerospace company’s stock worth $1,355,000 after purchasing an additional 1,880 shares in the last quarter. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Company Profile

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.