Northrop Grumman (NYSE:NOC) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Northrop Grumman (NYSE:NOC) from a buy rating to a strong-buy rating in a research note released on Friday.

Several other research firms also recently commented on NOC. Citigroup lifted their target price on shares of Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Wells Fargo & Company reduced their price objective on shares of Northrop Grumman from $565.00 to $505.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. JPMorgan Chase & Co. raised their target price on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Royal Bank of Canada upped their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Barclays raised their price objective on Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Northrop Grumman presently has a consensus rating of “Hold” and an average target price of $553.27.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $467.82 on Friday. The company’s 50 day moving average price is $490.71 and its two-hundred day moving average price is $490.95. The firm has a market capitalization of $68.16 billion, a P/E ratio of 28.99, a P/E/G ratio of 0.97 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. Northrop Grumman has a fifty-two week low of $418.60 and a fifty-two week high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. Northrop Grumman’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.18 EPS. On average, equities analysts forecast that Northrop Grumman will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman announced that its board has approved a stock buyback plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.76%. Northrop Grumman’s payout ratio is currently 51.05%.

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 1,255 shares of company stock valued at $666,461 over the last ninety days. 0.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northrop Grumman

A number of hedge funds have recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC purchased a new position in Northrop Grumman during the 3rd quarter worth $31,000. Meeder Asset Management Inc. grew its position in Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 54 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in Northrop Grumman in the 3rd quarter valued at about $36,000. Modus Advisors LLC bought a new position in shares of Northrop Grumman during the 4th quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

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.