Northrop Grumman Co. (NYSE:NOC) Receives Average Rating of “Moderate Buy” from Brokerages

Northrop Grumman Co. (NYSE:NOCGet Free Report) has been assigned an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $550.94.

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price objective for the company in a research report on Wednesday, January 8th. Royal Bank of Canada upped their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. UBS Group lifted their price objective on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th.

Get Our Latest Stock Report on NOC

Northrop Grumman Stock Performance

NOC opened at $481.56 on Thursday. Northrop Grumman has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a market cap of $70.16 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 0.95 and a beta of 0.35. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The company’s 50 day moving average is $478.87 and its 200 day moving average is $497.74.

Northrop Grumman declared that its board has authorized a stock buyback plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.71%. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 1,255 shares of company stock worth $663,859. Company insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Northrop Grumman

Several hedge funds and other institutional investors have recently modified their holdings of NOC. Two Sigma Advisers LP increased its stake in Northrop Grumman by 102.6% in the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock worth $388,448,000 after purchasing an additional 372,500 shares during the period. Franklin Resources Inc. grew its holdings in shares of Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in Northrop Grumman in the 4th quarter worth about $66,171,000. International Assets Investment Management LLC bought a new stake in Northrop Grumman during the 4th quarter valued at about $622,000. Finally, National Bank of Canada FI boosted its position in Northrop Grumman by 154.7% in the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company’s stock valued at $83,224,000 after buying an additional 95,724 shares during the period. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Company Profile

(Get Free Report

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.

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Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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