Citigroup Raises Northrop Grumman (NYSE:NOC) Price Target to $587.00

Northrop Grumman (NYSE:NOC) had its price objective boosted by stock analysts at Citigroup from $521.00 to $587.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the aerospace company’s stock. Citigroup’s price objective points to a potential upside of 11.03% from the company’s previous close.

Several other equities analysts have also commented on the stock. Jefferies Financial Group lowered their price target on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a research report on Tuesday, June 18th. UBS Group upped their price target on shares of Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada upped their price target on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Finally, Morgan Stanley upped their price objective on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $527.19.

Northrop Grumman Stock Up 0.3 %

NOC stock opened at $528.70 on Thursday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99. Northrop Grumman has a 1-year low of $418.60 and a 1-year high of $555.57. The firm has a fifty day moving average price of $517.80 and a two-hundred day moving average price of $476.93. The firm has a market cap of $78.24 billion, a price-to-earnings ratio of 36.97, a PEG ratio of 2.44 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, beating the consensus estimate of $5.93 by $0.43. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm had revenue of $10.22 billion during the quarter, compared to analyst estimates of $10.02 billion. During the same quarter in the previous year, the firm earned $5.34 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Research analysts predict that Northrop Grumman will post 25.16 EPS for the current year.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the sale, the vice president now directly owns 6,755 shares of the company’s stock, valued at $3,225,917.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,879 shares of company stock valued at $1,410,703. 0.22% of the stock is owned by insiders.

Institutional Trading of Northrop Grumman

A number of hedge funds have recently bought and sold shares of the company. Creative Planning lifted its stake in Northrop Grumman by 7.6% during the third quarter. Creative Planning now owns 42,571 shares of the aerospace company’s stock valued at $22,481,000 after buying an additional 3,017 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Northrop Grumman by 24.2% in the 3rd quarter. Grove Bank & Trust now owns 185 shares of the aerospace company’s stock valued at $98,000 after purchasing an additional 36 shares during the period. Oxler Private Wealth LLC increased its holdings in shares of Northrop Grumman by 0.4% in the 3rd quarter. Oxler Private Wealth LLC now owns 7,089 shares of the aerospace company’s stock valued at $3,743,000 after purchasing an additional 26 shares during the period. Stablepoint Partners LLC increased its holdings in Northrop Grumman by 1.5% in the third quarter. Stablepoint Partners LLC now owns 2,190 shares of the aerospace company’s stock worth $1,156,000 after buying an additional 33 shares during the last quarter. Finally, Procyon Advisors LLC increased its holdings in Northrop Grumman by 4.0% in the third quarter. Procyon Advisors LLC now owns 4,125 shares of the aerospace company’s stock worth $2,178,000 after buying an additional 159 shares during the last quarter. 83.40% of the stock is owned by hedge funds and other 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.