Northrop Grumman (NYSE:NOC) Price Target Raised to $518.00 at Wells Fargo & Company

Northrop Grumman (NYSE:NOC) had its target price upped by Wells Fargo & Company from $483.00 to $518.00 in a research report report published on Tuesday, Benzinga reports. They currently have an equal weight rating on the aerospace company’s stock.

Other equities analysts have also recently issued research reports about the stock. Susquehanna lifted 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. Robert W. Baird lifted their target price on Northrop Grumman from $475.00 to $505.00 and gave the stock a neutral rating in a report on Friday, April 26th. Royal Bank of Canada boosted their price target on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a sector perform rating in a report on Friday, April 26th. TheStreet cut shares of Northrop Grumman from a b+ rating to a c+ rating in a research report on Thursday, January 25th. Finally, StockNews.com upgraded Northrop Grumman from a hold rating to a buy rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $509.38.

Northrop Grumman Stock Performance

Shares of NOC traded down $5.91 during mid-day trading on Tuesday, reaching $469.09. 1,432,693 shares of the company’s stock traded hands, compared to its average volume of 1,013,910. Northrop Grumman has a 12 month low of $414.56 and a 12 month high of $496.89. The stock has a market capitalization of $69.42 billion, a P/E ratio of 32.80, a price-to-earnings-growth ratio of 2.00 and a beta of 0.34. The business’s 50-day moving average price is $464.80 and its 200-day moving average price is $465.95. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping the consensus estimate of $5.83 by $0.49. The business had revenue of $10.13 billion during the quarter, compared to the consensus estimate of $9.77 billion. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. During the same quarter in the prior year, the company posted $5.50 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities analysts predict that Northrop Grumman will post 24.7 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were given a $1.87 dividend. This represents a $7.48 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Friday, February 23rd. Northrop Grumman’s payout ratio is currently 52.31%.

Insider Activity

In related news, VP Kathryn G. Simpson sold 711 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the transaction, the vice president now owns 2,024 shares of the company’s stock, valued at $917,317.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Northrop Grumman news, VP Kathryn G. Simpson sold 711 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total transaction of $322,239.42. Following the transaction, the vice president now directly owns 2,024 shares of the company’s stock, valued at $917,317.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Kathryn G. Simpson sold 1,273 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $573,321.01. Following the completion of the sale, the vice president now directly owns 2,735 shares of the company’s stock, valued at approximately $1,231,761.95. The disclosure for this sale can be found here. Insiders sold a total of 3,149 shares of company stock worth $1,421,147 in the last three months. 0.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in shares of Northrop Grumman in the fourth quarter worth about $25,000. SRS Capital Advisors Inc. grew its holdings in Northrop Grumman by 960.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company’s stock valued at $25,000 after buying an additional 48 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in Northrop Grumman in the 3rd quarter worth approximately $29,000. Frazier Financial Advisors LLC acquired a new position in shares of Northrop Grumman during the fourth quarter worth approximately $29,000. Finally, McIlrath & Eck LLC increased its position in Northrop Grumman by 247.6% during the fourth quarter. McIlrath & Eck LLC now owns 73 shares of the aerospace company’s stock worth $34,000 after acquiring an additional 52 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

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.