Wells Fargo & Company Issues Pessimistic Forecast for Northrop Grumman (NYSE:NOC) Stock Price

Northrop Grumman (NYSE:NOC) had its price objective lowered by Wells Fargo & Company from $574.00 to $545.00 in a research report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the aerospace company’s stock.

Other research analysts have also issued research reports about the stock. Barclays reduced their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Susquehanna decreased their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. StockNews.com downgraded Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Finally, Truist Financial assumed coverage on Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $542.75.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock opened at $461.74 on Wednesday. The firm has a fifty day moving average of $469.44 and a two-hundred day moving average of $496.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The stock has a market capitalization of $66.84 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 3.73 and a beta of 0.35. Northrop Grumman has a 52 week low of $418.60 and a 52 week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. As a group, equities research analysts predict that Northrop Grumman will post 28.05 EPS for the current year.

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

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd will be given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Monday, March 3rd. Northrop Grumman’s dividend payout ratio is presently 29.08%.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 192 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the completion of the transaction, the vice president now owns 709 shares in the company, valued at $304,217.72. This trade represents a 21.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 291 shares of company stock worth $129,184. Insiders own 0.22% of the company’s stock.

Institutional Trading of Northrop Grumman

Several institutional investors and hedge funds have recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC bought a new stake in shares of Northrop Grumman during the 3rd quarter worth approximately $31,000. Whipplewood Advisors LLC acquired a new position in Northrop Grumman during the fourth quarter worth $31,000. Albion Financial Group UT bought a new stake in Northrop Grumman during the fourth quarter worth $33,000. Bellwether Advisors LLC acquired a new stake in Northrop Grumman in the fourth quarter valued at $33,000. Finally, FSA Wealth Management LLC bought a new position in shares of Northrop Grumman in the 3rd quarter valued at about $36,000. Institutional investors own 83.40% of the company’s stock.

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.