Northrop Grumman (NYSE:NOC) Price Target Raised to $500.00

Northrop Grumman (NYSE:NOC) had its target price increased by Barclays from $470.00 to $500.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the aerospace company’s stock.

A number of other analysts have also issued reports on the stock. BTIG Research initiated coverage on shares of Northrop Grumman in a research note on Wednesday, June 26th. They set a buy rating and a $565.00 target price for the company. Royal Bank of Canada upped their price objective on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a sector perform rating in a research note on Friday, July 26th. TD Cowen upped their price objective on shares of Northrop Grumman from $440.00 to $515.00 and gave the stock a hold rating in a research note on Monday, July 29th. Jefferies Financial Group lowered their price objective on shares of Northrop Grumman from $530.00 to $500.00 and set a hold rating for the company in a research note on Tuesday, June 18th. Finally, Susquehanna upped their price objective on shares of Northrop Grumman from $540.00 to $560.00 and gave the stock a positive rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Northrop Grumman currently has an average rating of Hold and an average target price of $516.29.

Northrop Grumman Stock Up 0.3 %

Shares of NOC opened at $494.67 on Tuesday. The firm has a market capitalization of $72.34 billion, a P/E ratio of 34.59, a P/E/G ratio of 2.22 and a beta of 0.32. Northrop Grumman has a 12-month low of $414.56 and a 12-month high of $505.00. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. The firm has a fifty day moving average price of $443.21 and a 200-day moving average price of $455.90.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. The firm had revenue of $10.22 billion during the quarter, compared to analyst estimates of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $5.34 earnings per share. Equities research analysts expect that Northrop Grumman will post 25.18 earnings per share for the current year.

Northrop Grumman Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were given a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.67%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.87. The ex-dividend date was Friday, May 24th. Northrop Grumman’s dividend payout ratio is presently 57.62%.

Insider Buying and Selling at Northrop Grumman

In other news, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the transaction, the vice president now owns 6,755 shares in the company, valued at $3,225,917.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Northrop Grumman

Hedge funds have recently modified their holdings of the stock. Argus Investors Counsel Inc. raised its holdings in shares of Northrop Grumman by 1.8% during the 4th quarter. Argus Investors Counsel Inc. now owns 2,713 shares of the aerospace company’s stock worth $1,270,000 after acquiring an additional 47 shares during the period. Mayflower Financial Advisors LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth $303,000. Veracity Capital LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth $365,000. Essex Savings Bank raised its holdings in shares of Northrop Grumman by 15.3% during the 4th quarter. Essex Savings Bank now owns 776 shares of the aerospace company’s stock worth $363,000 after acquiring an additional 103 shares during the period. Finally, Drive Wealth Management LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth $240,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.