Northrop Grumman Corporation (NYSE:NOC) has earned a consensus recommendation of “Buy” from the seventeen ratings firms that are currently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $259.93.
NOC has been the subject of a number of recent research reports. 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. Deutsche Bank AG restated a “buy” rating and issued a $285.00 price objective (up from $275.00) on shares of Northrop Grumman Corporation in a report on Thursday, July 27th. Cowen and Company restated a “hold” rating and issued a $275.00 price objective on shares of Northrop Grumman Corporation in a report on Monday, July 17th. BidaskClub lowered shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Morgan Stanley started coverage on shares of Northrop Grumman Corporation in a report on Tuesday. They set an “equal weight” rating and a $279.00 price target for the company.
Shares of Northrop Grumman Corporation (NYSE:NOC) opened at 270.55 on Friday. The company has a market cap of $47.10 billion, a PE ratio of 20.67 and a beta of 0.66. The company has a 50 day moving average of $263.10 and a 200 day moving average of $249.11. Northrop Grumman Corporation has a 1-year low of $206.69 and a 1-year high of $274.61.
Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $3.15 EPS for the quarter, topping the Zacks’ 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 business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the company earned $2.85 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts expect that Northrop Grumman Corporation will post $12.55 earnings per share for the current fiscal year.
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In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total transaction of $96,612.75. Following the transaction, the vice president now owns 961 shares in the company, valued at approximately $252,983.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sid Ashworth sold 3,847 shares of the stock in a transaction that occurred on 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 completion of the transaction, the vice president now owns 69,458 shares in the company, valued at approximately $18,059,080. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in NOC. BT Investment Management Ltd purchased a new stake in Northrop Grumman Corporation during the second quarter worth approximately $20,191,000. BlueMountain Capital Management LLC boosted its stake in Northrop Grumman Corporation by 10.2% in the second quarter. BlueMountain Capital Management LLC now owns 7,927 shares of the aerospace company’s stock worth $2,035,000 after buying an additional 732 shares during the last quarter. Amalgamated Bank boosted its stake in Northrop Grumman Corporation by 50.7% in the second quarter. Amalgamated Bank now owns 19,237 shares of the aerospace company’s stock worth $4,938,000 after buying an additional 6,469 shares during the last quarter. BlackRock Inc. boosted its stake in Northrop Grumman Corporation by 0.9% in the second quarter. BlackRock Inc. now owns 12,884,929 shares of the aerospace company’s stock worth $3,307,687,000 after buying an additional 109,532 shares during the last quarter. Finally, Norinchukin Bank The boosted its stake in Northrop Grumman Corporation by 6.8% in the second quarter. Norinchukin Bank The now owns 12,115 shares of the aerospace company’s stock worth $3,110,000 after buying an additional 769 shares during the last quarter. Institutional investors own 82.08% 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.
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