Northrop Grumman Corporation (NOC) Earns “Hold” Rating from Cowen and Company
Cowen and Company reissued their hold rating on shares of Northrop Grumman Corporation (NYSE:NOC) in a report published on Thursday morning. Cowen and Company currently has a $275.00 target price on the aerospace company’s stock.
NOC has been the subject of a number of other reports. Argus lifted their target price on Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a buy rating in a report on Friday, August 4th. Morgan Stanley began coverage on Northrop Grumman Corporation in a report on Tuesday, August 8th. They issued an equal weight rating and a $279.00 target price for the company. BidaskClub lowered Northrop Grumman Corporation from a buy rating to a hold rating in a report on Monday, July 31st. Goldman Sachs Group, Inc. (The) reiterated a conviction-buy rating and issued a $309.00 target price on shares of Northrop Grumman Corporation in a report on Wednesday. Finally, Vertical Research upgraded Northrop Grumman Corporation from a hold rating to a buy rating and lifted their target price for the company from $254.00 to $270.00 in a report on Wednesday, May 10th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Northrop Grumman Corporation currently has an average rating of Buy and an average price target of $265.51.
Shares of Northrop Grumman Corporation (NYSE:NOC) traded up 0.29% during trading on Thursday, hitting $269.33. The stock had a trading volume of 616,140 shares. The stock has a 50-day moving average price of $266.76 and a 200 day moving average price of $252.21. The company has a market cap of $46.89 billion, a P/E ratio of 20.57 and a beta of 0.66. Northrop Grumman Corporation has a 12 month low of $206.69 and a 12 month high of $274.61.
Northrop Grumman Corporation (NYSE:NOC) last released its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.84 by $0.31. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.21 billion. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. Northrop Grumman Corporation’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $2.85 earnings per share. Equities analysts expect that Northrop Grumman Corporation will post $12.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 28th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Thursday, August 24th. Northrop Grumman Corporation’s dividend payout ratio (DPR) is 30.56%.
In other news, VP Sid Ashworth sold 3,847 shares of Northrop Grumman Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the sale, the vice president now owns 69,458 shares in the company, valued at $18,059,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lisa R. Davis sold 367 shares of Northrop Grumman Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total value of $96,612.75. Following the sale, the vice president now owns 961 shares in the company, valued at approximately $252,983.25. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Hanseatic Management Services Inc. boosted its stake in Northrop Grumman Corporation by 12.8% in the second quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock worth $109,000 after buying an additional 48 shares during the period. First Personal Financial Services boosted its stake in Northrop Grumman Corporation by 39.0% in the second quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock worth $111,000 after buying an additional 121 shares during the period. Pittenger & Anderson Inc. boosted its stake in Northrop Grumman Corporation by 28.6% in the second quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock worth $116,000 after buying an additional 100 shares during the period. Harbour Capital Advisors LLC purchased a new stake in Northrop Grumman Corporation during the first quarter worth approximately $108,000. Finally, People s United Financial Inc. boosted its stake in Northrop Grumman Corporation by 9.2% in the second quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock worth $122,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 81.80% of the company’s stock.
Northrop Grumman Corporation Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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