Susquehanna Issues Pessimistic Forecast for Northrop Grumman (NYSE:NOC) Stock Price

Northrop Grumman (NYSE:NOC) had its price target cut by Susquehanna from $625.00 to $557.00 in a report released on Wednesday,Benzinga reports. They currently have a positive rating on the aerospace company’s stock.

NOC has been the topic of a number of other reports. TD Cowen raised Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Citigroup upped their price target on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Royal Bank of Canada boosted their price objective on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Barclays decreased their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $551.40.

Northrop Grumman Stock Up 2.3 %

Shares of NYSE:NOC opened at $462.68 on Wednesday. The company has a market capitalization of $67.41 billion, a price-to-earnings ratio of 28.67, a P/E/G ratio of 0.97 and a beta of 0.35. 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 business’s 50-day moving average is $486.64 and its 200-day moving average is $492.21. Northrop Grumman has a 1 year low of $418.60 and a 1 year high of $555.57.

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

Northrop Grumman declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Northrop Grumman Announces Dividend

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

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 1,255 shares of company stock valued at $663,859. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Northrop Grumman

Several institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Northrop Grumman during the fourth quarter valued at $622,000. Diversified Trust Co lifted its position in shares of Northrop Grumman by 143.2% during the fourth quarter. Diversified Trust Co now owns 4,902 shares of the aerospace company’s stock worth $2,300,000 after acquiring an additional 2,886 shares in the last quarter. Fortem Financial Group LLC purchased a new stake in shares of Northrop Grumman during the fourth quarter worth $237,000. CWA Asset Management Group LLC lifted its position in shares of Northrop Grumman by 89.3% during the fourth quarter. CWA Asset Management Group LLC now owns 1,257 shares of the aerospace company’s stock worth $590,000 after acquiring an additional 593 shares in the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of Northrop Grumman during the fourth quarter worth $38,000. 83.40% of the stock is owned by institutional investors.

About Northrop Grumman

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.