Northrop Grumman (NOC) Stock Rating Upgraded by ValuEngine

Northrop Grumman (NYSE:NOC) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report released on Sunday, December 31st.

Other research analysts have also recently issued research reports about the stock. Bank of America set a $350.00 price target on shares of Northrop Grumman and gave the stock a “buy” rating in a research note on Friday, October 27th. Royal Bank of Canada set a $374.00 price target on shares of Northrop Grumman and gave the stock a “buy” rating in a research note on Thursday, November 16th. Cowen restated a “hold” rating and set a $300.00 price objective (up from $275.00) on shares of Northrop Grumman in a research report on Thursday, October 26th. Zacks Investment Research downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Finally, Stifel Nicolaus raised their price objective on shares of Northrop Grumman from $255.00 to $300.00 and gave the company a “hold” rating in a research report on Friday, October 27th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $299.67.

Shares of Northrop Grumman (NYSE NOC) traded down $2.78 on Friday, hitting $307.61. 676,000 shares of the company traded hands, compared to its average volume of 718,243. The company has a market capitalization of $53,890.00, a P/E ratio of 22.92, a P/E/G ratio of 3.03 and a beta of 0.69. The company has a quick ratio of 1.05, a current ratio of 1.21 and a debt-to-equity ratio of 0.96. Northrop Grumman has a 12 month low of $223.88 and a 12 month high of $312.93.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.76. Northrop Grumman had a net margin of 9.88% and a return on equity of 41.69%. The company had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same quarter last year, the company posted $3.35 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. equities analysts predict that Northrop Grumman will post 13.19 earnings per share for the current fiscal year.

In other Northrop Grumman news, VP Denise M. Peppard sold 2,328 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $300.86, for a total value of $700,402.08. Following the completion of the sale, the vice president now directly owns 28,553 shares of the company’s stock, valued at approximately $8,590,455.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Gloria A. Flach sold 7,741 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $296.45, for a total transaction of $2,294,819.45. Following the completion of the sale, the chief operating officer now directly owns 77,200 shares of the company’s stock, valued at $22,885,940. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,417 shares of company stock valued at $6,365,189. 0.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in NOC. Beach Investment Management LLC. purchased a new stake in shares of Northrop Grumman in the 2nd quarter worth approximately $257,000. Victory Capital Management Inc. raised its stake in shares of Northrop Grumman by 16.1% during the 2nd quarter. Victory Capital Management Inc. now owns 13,029 shares of the aerospace company’s stock worth $3,345,000 after acquiring an additional 1,809 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Northrop Grumman by 281.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,228 shares of the aerospace company’s stock worth $3,398,000 after acquiring an additional 9,759 shares in the last quarter. Atlantic Trust Group LLC raised its stake in shares of Northrop Grumman by 23.7% during the 2nd quarter. Atlantic Trust Group LLC now owns 12,927 shares of the aerospace company’s stock worth $3,318,000 after acquiring an additional 2,480 shares in the last quarter. Finally, Calamos Wealth Management LLC raised its stake in shares of Northrop Grumman by 48.5% during the 2nd quarter. Calamos Wealth Management LLC now owns 3,343 shares of the aerospace company’s stock worth $858,000 after acquiring an additional 1,092 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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