Northrop Grumman Corporation (NOC) Receives “Hold” Rating from Cowen and Company

Cowen and Company reissued their hold rating on shares of Northrop Grumman Corporation (NYSE:NOC) in a report issued on Monday, July 17th. Cowen and Company currently has a $275.00 price target on the aerospace company’s stock.

Several other brokerages have also recently commented on NOC. Jefferies Group LLC reiterated a hold rating and set a $243.00 price target on shares of Northrop Grumman Corporation in a research report on Wednesday, June 21st. Vertical Research upgraded shares of Northrop Grumman Corporation from a hold rating to a buy rating and boosted their price objective for the company from $254.00 to $270.00 in a report on Wednesday, May 10th. Finally, Zacks Investment Research upgraded shares of Northrop Grumman Corporation from a hold rating to a buy rating and set a $270.00 price objective for the company in a report on Thursday, April 13th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $258.47.

Northrop Grumman Corporation (NOC) traded up 0.17% during midday trading on Monday, hitting $269.24. 653,027 shares of the stock were exchanged. The stock has a market cap of $46.87 billion, a price-to-earnings ratio of 20.57 and a beta of 0.66. The firm’s 50-day moving average is $261.05 and its 200 day moving average is $247.53. Northrop Grumman Corporation has a 52 week low of $206.69 and a 52 week high of $269.24.

Northrop Grumman Corporation (NYSE:NOC) last posted its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.31. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter last year, the company posted $2.85 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts expect that Northrop Grumman Corporation will post $12.56 EPS for the current fiscal year.

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In related news, VP Thomas E. Vice sold 29,740 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $250.00, for a total value of $7,435,000.00. Following the transaction, the vice president now directly owns 72,453 shares in the company, valued at $18,113,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sid Ashworth sold 3,847 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $260.00, for a total transaction of $1,000,220.00. Following the sale, the vice president now owns 69,458 shares in the company, valued at $18,059,080. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,954 shares of company stock worth $8,531,833. Corporate insiders own 0.70% of the company’s stock.

A number of large investors have recently made changes to their positions in NOC. Stock Yards Bank & Trust Co. increased its stake in shares of Northrop Grumman Corporation by 87.4% in the first quarter. Stock Yards Bank & Trust Co. now owns 1,672 shares of the aerospace company’s stock worth $398,000 after buying an additional 780 shares during the last quarter. Creative Planning increased its stake in shares of Northrop Grumman Corporation by 2.1% in the first quarter. Creative Planning now owns 16,808 shares of the aerospace company’s stock worth $3,998,000 after buying an additional 341 shares during the last quarter. Raymond James Trust N.A. boosted its position in Northrop Grumman Corporation by 16.1% in the first quarter. Raymond James Trust N.A. now owns 4,610 shares of the aerospace company’s stock worth $1,097,000 after buying an additional 639 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in Northrop Grumman Corporation by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 153,788 shares of the aerospace company’s stock worth $36,576,000 after buying an additional 3,252 shares during the period. Finally, Atalanta Sosnoff Capital LLC bought a new position in Northrop Grumman Corporation during the first quarter worth approximately $480,000. Hedge funds and other institutional investors own 81.75% 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.