Barclays Lowers Northrop Grumman (NYSE:NOC) Price Target to $500.00

Northrop Grumman (NYSE:NOC) had its price target cut by Barclays from $550.00 to $500.00 in a research report released on Monday,Benzinga reports. They currently have an equal weight rating on the aerospace company’s stock.

Other equities analysts also recently issued research reports about the company. Susquehanna upped their target price on Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a report on Friday, October 25th. UBS Group lifted their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. StockNews.com upgraded Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada raised their target price on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $551.40.

Northrop Grumman Price Performance

Shares of NYSE:NOC opened at $462.68 on Monday. The company’s fifty day moving average price is $486.64 and its 200-day moving average price is $492.21. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The firm has a market capitalization of $67.41 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 0.97 and a beta of 0.35. Northrop Grumman has a one year low of $418.60 and a one year high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business earned $6.18 earnings per share. On average, equities research analysts anticipate that Northrop Grumman will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.78%. Northrop Grumman’s dividend payout ratio (DPR) is presently 51.05%.

Northrop Grumman declared that its board has authorized a stock buyback program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 1,255 shares of company stock valued at $663,859 over the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northrop Grumman

Several hedge funds and other institutional investors have recently modified their holdings of NOC. Wellington Management Group LLP increased its position in Northrop Grumman by 0.4% during the third quarter. Wellington Management Group LLP now owns 4,140,892 shares of the aerospace company’s stock valued at $2,186,681,000 after acquiring an additional 17,596 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Northrop Grumman by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,003,360 shares of the aerospace company’s stock worth $1,581,644,000 after purchasing an additional 18,791 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company’s stock worth $1,315,729,000 after buying an additional 141,816 shares during the last quarter. Legal & General Group Plc grew its position in Northrop Grumman by 16.0% during the second quarter. Legal & General Group Plc now owns 1,087,913 shares of the aerospace company’s stock valued at $474,276,000 after buying an additional 150,367 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Northrop Grumman by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 809,445 shares of the aerospace company’s stock worth $427,444,000 after acquiring an additional 3,211 shares during the period. 83.40% of the stock is owned by institutional investors.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.