Northrop Grumman Corporation (NYSE:NOC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $309.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.02% from the company’s previous close.

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. To this end, apart from paying solid dividends to its shareholders, Northrop also follows a share buyback policy to maintain a disciplined cash deployment strategy.  Also, recent budgetary amendments made by the Trump administration have been in favor of defense biggies like Northrop. However, too much dependence on fixed-price contracts remains a concern for the stock.”

NOC has been the topic of a number of other reports. Stifel Nicolaus reiterated a “hold” rating and issued a $255.00 price objective (up from $245.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Deutsche Bank AG restated a “buy” rating and set a $285.00 price target (up from $275.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. BidaskClub upgraded Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Jefferies Group LLC reaffirmed a “hold” rating and set a $243.00 price objective on shares of Northrop Grumman Corporation in a research report on Wednesday, June 21st. Finally, Royal Bank Of Canada set a $294.00 price objective on Northrop Grumman Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Northrop Grumman Corporation has an average rating of “Buy” and an average target price of $270.15.

Shares of Northrop Grumman Corporation (NYSE:NOC) traded up 0.38% during trading on Wednesday, reaching $279.38. The company had a trading volume of 167,622 shares. The company has a market capitalization of $48.64 billion, a PE ratio of 21.34 and a beta of 0.66. The stock’s 50-day moving average price is $269.39 and its 200-day moving average price is $255.59. Northrop Grumman Corporation has a 52 week low of $210.60 and a 52 week high of $279.97.

Northrop Grumman Corporation (NYSE:NOC) last posted its quarterly earnings data 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 period in the previous year, the business earned $2.85 EPS. Northrop Grumman Corporation’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts expect that Northrop Grumman Corporation will post $12.55 EPS for the current fiscal year.

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In other news, VP Lisa R. Davis sold 367 shares of the company’s stock in a transaction that occurred on 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC acquired a new stake in shares of Northrop Grumman Corporation during the first quarter valued at approximately $108,000. Hanseatic Management Services Inc. increased its stake in shares of Northrop Grumman Corporation by 12.8% during the 2nd quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock worth $109,000 after purchasing an additional 48 shares during the last quarter. First Personal Financial Services increased its stake in shares of Northrop Grumman Corporation by 39.0% during the 2nd quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock worth $111,000 after purchasing an additional 121 shares during the last quarter. Pittenger & Anderson Inc. increased its stake in shares of Northrop Grumman Corporation by 28.6% during the 2nd quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock worth $116,000 after purchasing an additional 100 shares during the last quarter. Finally, People s United Financial Inc. increased its stake in shares of Northrop Grumman Corporation by 9.2% during the 2nd quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock worth $122,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 81.37% 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.

Analyst Recommendations for Northrop Grumman Corporation (NYSE:NOC)

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