Northrop Grumman Corporation (NYSE:NOC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

According to Zacks, “As one of the top largest U.S. defense contractors, Northrop continues to enjoy strong presence in Air Force, Space & Cyber Security programs. Moreover, its product innovation and focus on strengthening its ISR wing will help maintain a stable earnings stream amid the rapidly changing needs of the defense landscape. The company maintains a strong balance sheet and steady cash flow that offer substantial financial flexibility. However, challenging economic and political factors have been raising concerns. Moreover, too much dependence on fixed-price contracts remains a concern for the stock. Also the company underperformed the broader industry in past one year.”

NOC has been the topic of several other reports. Argus upped their price objective on shares of 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 shares of Northrop Grumman Corporation in a report on Tuesday, August 8th. They set an “equal weight” rating and a $279.00 price objective on the stock. BidaskClub downgraded shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and issued a $309.00 price target on shares of Northrop Grumman Corporation in a report on Wednesday, August 23rd. Finally, Cowen and Company reissued a “hold” rating and issued a $275.00 price target on shares of Northrop Grumman Corporation in a report on Monday, July 17th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Northrop Grumman Corporation presently has an average rating of “Buy” and a consensus target price of $269.43.

Northrop Grumman Corporation (NYSE NOC) traded up 2.83% during mid-day trading on Monday, hitting $274.59. 1,165,252 shares of the stock were exchanged. The stock’s 50-day moving average is $268.61 and its 200 day moving average is $254.97. The company has a market capitalization of $47.80 billion, a PE ratio of 20.98 and a beta of 0.66. Northrop Grumman Corporation has a 52 week low of $210.60 and a 52 week high of $275.14.

Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.84 by $0.31. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.85 earnings per share. On average, analysts anticipate that Northrop Grumman Corporation will post $12.55 EPS for the current year.

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In related news, VP Lisa R. Davis sold 367 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total value of $96,612.75. Following the completion of the sale, the vice president now owns 961 shares of the company’s stock, valued at $252,983.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Harbour Capital Advisors LLC purchased a new stake in Northrop Grumman Corporation in the first quarter worth $108,000. Hanseatic Management Services Inc. lifted 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 acquiring an additional 48 shares during the period. First Personal Financial Services lifted its position in Northrop Grumman Corporation by 39.0% during the second quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock valued at $111,000 after buying an additional 121 shares during the period. Pittenger & Anderson Inc. lifted its position in Northrop Grumman Corporation by 28.6% during the second quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock valued at $116,000 after buying an additional 100 shares during the period. Finally, People s United Financial Inc. lifted its position in Northrop Grumman Corporation by 9.2% during the second quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock valued at $122,000 after buying an additional 40 shares during the period. 81.37% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Northrop Grumman Corporation (NYSE:NOC)

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