Brokerages Set Northrop Grumman Co. (NYSE:NOC) PT at $544.56

Northrop Grumman Co. (NYSE:NOC) has been given an average recommendation of “Hold” by the seventeen brokerages that are covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $542.75.

Several brokerages have recently weighed in on NOC. 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 report on Monday, January 6th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Wells Fargo & Company reduced their price target on Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating on the stock in a report on Wednesday. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Finally, UBS Group reduced their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a report on Friday, January 31st.

Insider Buying and Selling

In other news, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the transaction, the vice president now directly owns 709 shares in the company, valued at $304,217.72. The trade was a 21.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 291 shares of company stock worth $129,184. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC purchased a new stake in shares of Northrop Grumman during the third quarter worth $31,000. Whipplewood Advisors LLC acquired a new position in Northrop Grumman in the fourth quarter valued at $31,000. FSA Wealth Management LLC acquired a new position in Northrop Grumman in the third quarter valued at $36,000. Albion Financial Group UT acquired a new position in Northrop Grumman in the fourth quarter valued at $33,000. Finally, Bellwether Advisors LLC acquired a new stake in shares of Northrop Grumman during the fourth quarter worth about $33,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock opened at $454.80 on Monday. The stock has a 50 day moving average of $469.74 and a 200 day moving average of $496.76. Northrop Grumman has a 12 month low of $418.60 and a 12 month high of $555.57. The firm has a market cap of $65.84 billion, a PE ratio of 16.05, a PEG ratio of 3.73 and a beta of 0.35. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, research analysts expect that Northrop Grumman will post 28.05 EPS for the current fiscal year.

Northrop Grumman announced that its board has initiated a stock buyback program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Monday, March 3rd will be paid a $2.06 dividend. The ex-dividend date is Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.81%. Northrop Grumman’s dividend payout ratio is presently 29.08%.

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.