Northrop Grumman Corp. (NOC) Now Covered by Robert W. Baird
Stock analysts at Robert W. Baird started coverage on shares of Northrop Grumman Corp. (NYSE:NOC) in a research note issued on Wednesday. The firm set an “outperform” rating and a $260.00 price target on the stock. Robert W. Baird’s price objective suggests a potential upside of 21.38% from the stock’s current price.
Several other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Northrop Grumman Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 1st. JPMorgan Chase & Co. downgraded shares of Northrop Grumman Corp. from an “overweight” rating to a “neutral” rating and upped their price target for the company from $225.00 to $231.00 in a research report on Thursday, August 25th. Jefferies Group upped their price target on shares of Northrop Grumman Corp. from $233.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Argus reiterated a “buy” rating on shares of Northrop Grumman Corp. in a research report on Tuesday, August 2nd. Finally, Citigroup Inc. upped their price target on shares of Northrop Grumman Corp. from $235.00 to $243.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $223.97.
Shares of Northrop Grumman Corp. (NYSE:NOC) opened at 214.21 on Wednesday. The firm has a market cap of $38.25 billion, a price-to-earnings ratio of 19.27 and a beta of 0.72. Northrop Grumman Corp. has a 12 month low of $172.40 and a 12 month high of $224.12. The stock has a 50 day moving average of $213.65 and a 200 day moving average of $212.53.
Northrop Grumman Corp. (NYSE:NOC) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.32. The business earned $6 billion during the quarter, compared to the consensus estimate of $5.99 billion. Northrop Grumman Corp. had a net margin of 8.67% and a return on equity of 32.59%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.54 EPS. On average, equities research analysts expect that Northrop Grumman Corp. will post $11.04 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Monday, August 29th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.68%. Northrop Grumman Corp.’s dividend payout ratio (DPR) is presently 32.37%.
In related news, CFO Kenneth L. Bedingfield sold 125 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $213.00, for a total value of $26,625.00. Following the sale, the chief financial officer now directly owns 18,501 shares of the company’s stock, valued at approximately $3,940,713. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Wesley G. Bush sold 35,000 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $218.45, for a total transaction of $7,645,750.00. Following the completion of the sale, the chief executive officer now directly owns 35,000 shares in the company, valued at $7,645,750. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Virginia Retirement System acquired a new stake in shares of Northrop Grumman Corp. during the first quarter worth approximately $556,000. Pacad Investment Ltd. acquired a new stake in shares of Northrop Grumman Corp. during the first quarter worth approximately $891,000. Shufro Rose & Co. LLC acquired a new stake in shares of Northrop Grumman Corp. during the first quarter worth approximately $281,000. ING Groep NV boosted its stake in shares of Northrop Grumman Corp. by 82.9% in the first quarter. ING Groep NV now owns 4,107 shares of the company’s stock worth $813,000 after buying an additional 1,862 shares during the last quarter. Finally, Aviva PLC boosted its stake in shares of Northrop Grumman Corp. by 3.1% in the first quarter. Aviva PLC now owns 158,364 shares of the company’s stock worth $31,341,000 after buying an additional 4,708 shares during the last quarter. 82.52% of the stock is currently owned by hedge funds and other institutional investors.
About Northrop Grumman Corp.
Northrop Grumman Corporation (Northrop Grumman) is a global security company. The Company provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial customers across the world.
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