Northrop Grumman (NYSE:NOC) Upgraded at StockNews.com

Northrop Grumman (NYSE:NOC) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Sunday.

Several other research analysts have also recently weighed in on NOC. Wells Fargo & Company raised shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target on the stock in a research report on Wednesday, January 8th. Citigroup boosted their target price on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Truist Financial began coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target for the company. Barclays decreased their price objective on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, UBS Group raised their target price on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $550.94.

Northrop Grumman Stock Up 0.3 %

NOC stock opened at $482.49 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average of $480.55 and a two-hundred day moving average of $494.51. Northrop Grumman has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a market cap of $70.30 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 0.87 and a beta of 0.35.

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

Northrop Grumman announced that its board has authorized a share buyback plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 1,255 shares of company stock valued at $663,859 in the last ninety days. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Northrop Grumman

Several large investors have recently bought and sold shares of NOC. Federated Hermes Inc. boosted its position in shares of Northrop Grumman by 24.3% in the 2nd quarter. Federated Hermes Inc. now owns 2,387 shares of the aerospace company’s stock valued at $1,041,000 after purchasing an additional 467 shares during the period. Brighton Jones LLC boosted its holdings in shares of Northrop Grumman by 2.9% in the second quarter. Brighton Jones LLC now owns 1,071 shares of the aerospace company’s stock valued at $467,000 after acquiring an additional 30 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of Northrop Grumman by 4.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the aerospace company’s stock worth $961,000 after acquiring an additional 95 shares during the last quarter. AE Wealth Management LLC increased its holdings in shares of Northrop Grumman by 19.6% in the 2nd quarter. AE Wealth Management LLC now owns 1,778 shares of the aerospace company’s stock valued at $775,000 after acquiring an additional 291 shares during the period. Finally, Summit Trail Advisors LLC raised its position in Northrop Grumman by 9.8% in the 2nd quarter. Summit Trail Advisors LLC now owns 895 shares of the aerospace company’s stock valued at $390,000 after purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company’s stock.

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.