ValuEngine cut shares of Northrop Grumman (NYSE:NOC) from a hold rating to a sell rating in a research report report published on Tuesday morning, ValuEngine reports.

NOC has been the topic of several other reports. Morgan Stanley upgraded Northrop Grumman from an equal weight rating to an overweight rating and increased their price objective for the company from $335.00 to $418.00 in a research report on Tuesday, August 6th. Bank of America reiterated a buy rating and set a $405.00 price objective (up from $355.00) on shares of Northrop Grumman in a research report on Thursday, July 25th. Barclays increased their price objective on Northrop Grumman from $325.00 to $340.00 and gave the company an overweight rating in a research report on Thursday, May 16th. Robert W. Baird increased their price objective on Northrop Grumman from $300.00 to $364.00 and gave the company an outperform rating in a research report on Wednesday, July 10th. Finally, Credit Suisse Group increased their price objective on Northrop Grumman from $364.00 to $385.00 and gave the company an outperform rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $347.60.

NYSE NOC traded up $1.04 during trading on Tuesday, reaching $366.26. The company’s stock had a trading volume of 14,276 shares, compared to its average volume of 671,183. The stock has a market capitalization of $60.08 billion, a PE ratio of 17.18, a P/E/G ratio of 1.45 and a beta of 0.79. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.25 and a quick ratio of 1.15. The firm has a fifty day moving average of $361.49 and a 200 day moving average of $313.26. Northrop Grumman has a one year low of $223.63 and a one year high of $377.34.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, topping analysts’ consensus estimates of $4.64 by $0.42. The business had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.41 billion. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.50 EPS. Research analysts expect that Northrop Grumman will post 19.63 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Monday, September 9th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.44%. The ex-dividend date is Friday, September 6th. Northrop Grumman’s dividend payout ratio is presently 24.75%.

In other Northrop Grumman news, VP Christopher T. Jones sold 5,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $353.19, for a total value of $1,765,950.00. Following the completion of the sale, the vice president now owns 67,422 shares in the company, valued at approximately $23,812,776.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kathy J. Warden sold 6,837 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $353.46, for a total value of $2,416,606.02. Following the completion of the sale, the chief executive officer now owns 99,002 shares of the company’s stock, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOC. Vanguard Group Inc. lifted its stake in shares of Northrop Grumman by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 13,897,587 shares of the aerospace company’s stock valued at $4,490,450,000 after purchasing an additional 140,627 shares during the period. Geode Capital Management LLC increased its holdings in shares of Northrop Grumman by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 2,002,473 shares of the aerospace company’s stock worth $489,450,000 after purchasing an additional 56,098 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Northrop Grumman by 0.5% in the 2nd quarter. Northern Trust Corp now owns 1,714,919 shares of the aerospace company’s stock worth $554,108,000 after purchasing an additional 8,997 shares in the last quarter. Putnam Investments LLC increased its holdings in shares of Northrop Grumman by 30.7% in the 2nd quarter. Putnam Investments LLC now owns 1,444,136 shares of the aerospace company’s stock worth $466,615,000 after purchasing an additional 339,169 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in shares of Northrop Grumman by 32,192.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,241,311 shares of the aerospace company’s stock worth $401,079,000 after purchasing an additional 1,237,467 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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