Susquehanna Issues Pessimistic Forecast for Northrop Grumman (NYSE:NOC) Stock Price

Northrop Grumman (NYSE:NOC) had its price objective decreased by stock analysts at Susquehanna from $625.00 to $557.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the aerospace company’s stock. Susquehanna’s price objective points to a potential upside of 20.39% from the stock’s current price.

Several other research analysts have also commented on the company. Wells Fargo & Company raised Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target for the company in a research report on Wednesday. UBS Group increased their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Royal Bank of Canada raised their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Barclays reduced their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $551.40.

Northrop Grumman Stock Up 2.3 %

NYSE:NOC opened at $462.68 on Wednesday. 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 1-year low of $418.60 and a 1-year high of $555.57. The company has a 50-day moving average of $485.71 and a 200 day moving average of $492.01. The firm has a market cap of $67.41 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 0.97 and a beta of 0.35.

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

Northrop Grumman declared that its board has initiated a share repurchase plan on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now owns 537 shares in the company, valued at $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 1,255 shares of company stock valued at $663,859. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Ascent Group LLC increased its holdings in shares of Northrop Grumman by 0.5% during the 2nd quarter. Ascent Group LLC now owns 4,337 shares of the aerospace company’s stock valued at $1,891,000 after purchasing an additional 20 shares in the last quarter. Cornell Pochily Investment Advisors Inc. increased its holdings in Northrop Grumman by 0.9% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock valued at $1,131,000 after buying an additional 20 shares in the last quarter. Asset Dedication LLC increased its holdings in Northrop Grumman by 1.0% in the third quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after buying an additional 20 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of Northrop Grumman by 1.4% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after acquiring an additional 20 shares in the last quarter. Finally, PBMares Wealth Management LLC boosted its stake in shares of Northrop Grumman by 0.5% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after acquiring an additional 20 shares in the last quarter. 83.40% of the stock is owned by institutional investors and hedge funds.

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.