Deutsche Bank AG Reiterates Buy Rating for Northrop Grumman Corporation (NOC)
Northrop Grumman Corporation (NYSE:NOC)‘s stock had its “buy” rating reiterated by investment analysts at Deutsche Bank AG in a note issued to investors on Monday. They presently have a $325.00 price objective on the aerospace company’s stock, up from their prior price objective of $285.00. Deutsche Bank AG’s price objective would indicate a potential upside of 11.65% from the company’s current price.
Several other research firms have also issued reports on NOC. Zacks Investment Research lowered Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. 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, August 23rd. Royal Bank Of Canada set a $294.00 target price on Northrop Grumman Corporation and gave the company a “buy” rating in a research report on Tuesday, August 29th. BidaskClub raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Finally, Jefferies Group LLC restated a “hold” rating and set a $269.00 price target on shares of Northrop Grumman Corporation in a report on Friday, September 29th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $276.72.
Northrop Grumman Corporation (NOC) opened at 291.08 on Monday. The company has a market cap of $50.68 billion, a PE ratio of 22.24 and a beta of 0.68. The stock has a 50 day moving average of $273.82 and a 200 day moving average of $258.58. Northrop Grumman Corporation has a one year low of $212.02 and a one year high of $292.32.
Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same quarter last year, the business posted $2.85 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, analysts anticipate that Northrop Grumman Corporation will post $12.55 earnings per share for the current fiscal year.
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In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were 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 directly owns 961 shares of the company’s stock, valued at approximately $252,983.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.70% of the company’s stock.
Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Northrop Grumman Corporation by 2,871.7% in the first quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock valued at $3,038,501,000 after purchasing an additional 12,345,491 shares during the period. Janus Henderson Group PLC grew its stake in Northrop Grumman Corporation by 41,518.7% in the second quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock worth $749,585,000 after purchasing an additional 2,912,953 shares in the last quarter. Alliancebernstein L.P. grew its stake in Northrop Grumman Corporation by 64.6% in the first quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock worth $749,119,000 after purchasing an additional 1,235,985 shares in the last quarter. Winslow Capital Management LLC bought a new position in Northrop Grumman Corporation in the first quarter worth approximately $198,691,000. Finally, Renaissance Technologies LLC increased its holdings in Northrop Grumman Corporation by 331.4% during the 1st quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock worth $235,271,000 after purchasing an additional 759,900 shares during the period. 81.37% of the stock is currently owned by institutional investors and hedge funds.
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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