Northrop Grumman (NOC) Upgraded by J P Morgan Chase & Co to Overweight

J P Morgan Chase & Co upgraded shares of Northrop Grumman (NYSE:NOC) from a neutral rating to an overweight rating in a report issued on Tuesday morning. They currently have $355.00 target price on the aerospace company’s stock, up from their previous target price of $317.00.

A number of other analysts have also issued reports on the company. Cowen reissued a hold rating and issued a $310.00 target price on shares of Northrop Grumman in a research report on Wednesday, November 22nd. Royal Bank of Canada set a $374.00 target price on Northrop Grumman and gave the company a buy rating in a research report on Thursday, November 16th. Zacks Investment Research lowered Northrop Grumman from a buy rating to a hold rating in a research report on Thursday, November 9th. Bank of America set a $350.00 target price on Northrop Grumman and gave the company a buy rating in a research report on Friday, October 27th. Finally, Stifel Nicolaus boosted their target price on Northrop Grumman from $255.00 to $300.00 and gave the company a hold rating in a research report on Friday, October 27th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $298.67.

Shares of Northrop Grumman (NYSE NOC) traded up $2.72 during midday trading on Tuesday, reaching $307.28. The company’s stock had a trading volume of 978,300 shares, compared to its average volume of 781,103. The stock has a market capitalization of $53,017.34, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 3.06 and a beta of 0.69. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.96. Northrop Grumman has a 52 week low of $223.88 and a 52 week high of $309.76.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.76. The company had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.33 billion. Northrop Grumman had a return on equity of 39.76% and a net margin of 9.24%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.35 earnings per share. analysts predict that Northrop Grumman will post 13.18 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Monday, December 4th will be paid a $1.00 dividend. The ex-dividend date is Friday, December 1st. This represents a $4.00 annualized dividend and a dividend yield of 1.30%. Northrop Grumman’s dividend payout ratio (DPR) is 29.81%.

In other Northrop Grumman news, VP Sid Ashworth sold 6,311 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $298.00, for a total value of $1,880,678.00. Following the completion of the transaction, the vice president now owns 63,147 shares in the company, valued at $18,817,806. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Gloria A. Flach sold 7,741 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $296.45, for a total transaction of $2,294,819.45. Following the transaction, the chief operating officer now owns 77,200 shares of the company’s stock, valued at approximately $22,885,940. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,417 shares of company stock valued at $6,365,189. Insiders own 0.70% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Hanseatic Management Services Inc. grew its stake in shares of Northrop Grumman by 12.8% during the second quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock worth $109,000 after purchasing an additional 48 shares in the last quarter. First Personal Financial Services grew its stake in shares of Northrop Grumman by 39.0% during the second quarter. First Personal Financial Services now owns 431 shares of the aerospace company’s stock worth $111,000 after purchasing an additional 121 shares in the last quarter. Pittenger & Anderson Inc. grew its stake in shares of Northrop Grumman by 28.6% during the second quarter. Pittenger & Anderson Inc. now owns 450 shares of the aerospace company’s stock worth $116,000 after purchasing an additional 100 shares in the last quarter. People s United Financial Inc. grew its stake in shares of Northrop Grumman by 9.2% during the second 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 in the last quarter. Finally, Ropes Wealth Advisors LLC acquired a new position in shares of Northrop Grumman during the third quarter worth $144,000. Hedge funds and other institutional investors own 81.33% of the company’s stock.

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Northrop Grumman 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 (NYSE:NOC)

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