Zacks Investment Research cut shares of Northrop Grumman Corporation (NYSE:NOC) from a buy rating to a hold rating in a report issued on Thursday.

According to Zacks, “Northrop posted encouraging third-quarter result, wherein both top and bottom line outperformed the respective Zacks Consensus Estimate. Year-over-year results were also impressive on both ends. Further the raised guidance for full year buoys optimism. As one of the major U.S. defense contractors, Northrop continues to enjoy strong presence in Air Force, Space & Cyber Security programs. The company maintains a strong balance sheet and steady cash flow that offer substantial financial flexibility. Impressively, the company outperformed the broader industry in past three months. Also, recent budgetary amendments made by the Trump administration have been in favor of defense biggies like Northrop. However, higher operating expenses tend to drag down Northrop's profit margin.”

Other analysts also recently issued research reports about the stock. Stifel Nicolaus reaffirmed a hold rating and set a $255.00 price target (up previously from $245.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Cowen and Company reaffirmed a hold rating and set a $300.00 price target (up previously from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, October 26th. Bank of America Corporation set a $350.00 price target on shares of Northrop Grumman Corporation and gave the stock a buy rating in a report on Friday, October 27th. Deutsche Bank AG reaffirmed a buy rating and set a $285.00 price target (up previously from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) set a $320.00 price objective on shares of Northrop Grumman Corporation and gave the stock a buy rating in a research report on Thursday, October 26th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Northrop Grumman Corporation currently has a consensus rating of Buy and an average target price of $292.01.

Northrop Grumman Corporation (NYSE NOC) traded down $1.01 during midday trading on Thursday, reaching $298.13. 391,800 shares of the company’s stock were exchanged, compared to its average volume of 681,865. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.96. The company has a market cap of $51,897.88, a P/E ratio of 22.72, a P/E/G ratio of 3.00 and a beta of 0.70. Northrop Grumman Corporation has a 52-week low of $220.72 and a 52-week high of $306.61.

Northrop Grumman Corporation (NYSE:NOC) last posted its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.76. The firm had revenue of $6.53 billion during the quarter, compared to the consensus estimate of $6.33 billion. Northrop Grumman Corporation had a net margin of 9.24% and a return on equity of 39.76%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.35 EPS. research analysts forecast that Northrop Grumman Corporation will post 13.2 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of United States & international trademark and copyright laws. The legal version of this news story can be viewed at https://www.watchlistnews.com/northrop-grumman-corporation-noc-cut-to-hold-at-zacks-investment-research/1698780.html.

In other Northrop Grumman Corporation news, VP Denise M. Peppard sold 5,037 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $295.67, for a total value of $1,489,289.79. Following the transaction, the vice president now directly owns 58,186 shares of the company’s stock, valued at $17,203,854.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sid Ashworth sold 6,311 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $298.00, for a total transaction of $1,880,678.00. Following the completion of the transaction, the vice president now directly owns 63,147 shares in the company, valued at $18,817,806. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,676 shares of company stock worth $4,070,370. 0.70% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Northrop Grumman Corporation by 1.5% during the second quarter. Vanguard Group Inc. now owns 12,956,906 shares of the aerospace company’s stock valued at $3,326,168,000 after purchasing an additional 192,667 shares in the last quarter. BlackRock Inc. lifted its position in shares of Northrop Grumman Corporation by 0.9% during the second quarter. BlackRock Inc. now owns 12,884,929 shares of the aerospace company’s stock valued at $3,307,687,000 after purchasing an additional 109,532 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Northrop Grumman Corporation by 4.8% during the second quarter. Alliancebernstein L.P. now owns 3,300,832 shares of the aerospace company’s stock valued at $847,357,000 after purchasing an additional 151,154 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Northrop Grumman Corporation by 41,518.7% during the second quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock valued at $749,585,000 after purchasing an additional 2,912,953 shares in the last quarter. Finally, Capital International Investors lifted its position in shares of Northrop Grumman Corporation by 7.6% during the second quarter. Capital International Investors now owns 1,758,501 shares of the aerospace company’s stock valued at $451,425,000 after purchasing an additional 124,500 shares in the last quarter. 81.51% of the stock is currently owned by hedge funds and other 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.

Get a free copy of the Zacks research report on Northrop Grumman Corporation (NOC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Northrop Grumman Corporation (NYSE:NOC)

Receive News & Ratings for Northrop Grumman Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.