Northrop Grumman Corporation (NYSE:NOC) Stock Has Average Target Price of $641.91 According to Brokerages

Northrop Grumman Corporation (NYSE:NOC) has earned an average rating of “Moderate Buy” from the twenty-five analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, fourteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $641.91.

NOC has been the topic of a number of research analyst reports. Robert W. Baird set a $500.00 price target on Northrop Grumman in a report on Wednesday, July 22nd. Morgan Stanley set a $745.00 target price on shares of Northrop Grumman and gave the company an “overweight” rating in a report on Wednesday, July 15th. Guggenheim initiated coverage on shares of Northrop Grumman in a report on Monday, September 14th. They set a “buy” rating and a $612.00 target price for the company. Jefferies Financial Group decreased their price target on shares of Northrop Grumman from $620.00 to $580.00 and set a “hold” rating on the stock in a research report on Friday, June 26th. Finally, Citigroup lifted their price target on shares of Northrop Grumman from $617.00 to $667.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th.

Northrop Grumman Stock Down 1.7%

Shares of NYSE:NOC opened at $510.87 on Friday. The stock has a market capitalization of $72.56 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 3.05 and a beta of -0.11. The stock has a fifty day simple moving average of $523.85 and a two-hundred day simple moving average of $551.28. Northrop Grumman has a 12-month low of $470.06 and a 12-month high of $774.00. The company has a current ratio of 1.17, a quick ratio of 1.06 and a debt-to-equity ratio of 0.81.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Tuesday, July 21st. The aerospace company reported $7.68 EPS for the quarter, beating the consensus estimate of $6.82 by $0.86. Northrop Grumman had a net margin of 10.48% and a return on equity of 24.25%. The company had revenue of $10.88 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same period in the prior year, the firm posted $8.15 EPS. Northrop Grumman’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, research analysts anticipate that Northrop Grumman will post 28.96 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Monday, August 31st were paid a $2.47 dividend. This represents a $9.88 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Monday, August 31st. Northrop Grumman’s dividend payout ratio is 31.39%.

Insider Buying and Selling

In related news, Director Mark Welsh, III sold 95 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $547.53, for a total value of $52,015.35. Following the transaction, the director directly owned 4,393 shares of the company’s stock, valued at approximately $2,405,299.29. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of Northrop Grumman

Hedge funds have recently bought and sold shares of the stock. CFS Investment Advisory Services LLC boosted its stake in shares of Northrop Grumman by 30.9% during the third quarter. CFS Investment Advisory Services LLC now owns 636 shares of the aerospace company’s stock valued at $307,000 after purchasing an additional 150 shares in the last quarter. Retirement Planning Group LLC increased its position in Northrop Grumman by 8.4% during the 3rd quarter. Retirement Planning Group LLC now owns 1,401 shares of the aerospace company’s stock valued at $677,000 after buying an additional 108 shares in the last quarter. Secure Asset Management LLC increased its holdings in shares of Northrop Grumman by 19.8% during the third quarter. Secure Asset Management LLC now owns 703 shares of the aerospace company’s stock valued at $340,000 after acquiring an additional 116 shares in the last quarter. Kaufman Rossin Wealth LLC purchased a new position in shares of Northrop Grumman in the third quarter worth $281,000. Finally, Grant Private Wealth Management Inc increased its position in shares of Northrop Grumman by 48.3% in the 3rd quarter. Grant Private Wealth Management Inc now owns 1,566 shares of the aerospace company’s stock valued at $757,000 after acquiring an additional 510 shares during the period. Institutional investors own 83.40% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corporation (NYSE:NOC) is a global aerospace and defense company that develops and produces systems for government and commercial customers, with the U.S. government representing its primary customer base. The company operates across aerospace, defense, space, cybersecurity and advanced technology markets.

Its products and services include military aircraft and autonomous systems, space systems and satellites, missile defense technologies, command-and-control systems, cyber solutions, sensors, communications networks and other mission-critical systems.