Northrop Grumman (NYSE:NOC) PT Raised to $518.00 at Wells Fargo & Company

Northrop Grumman (NYSE:NOC) had its target price upped by Wells Fargo & Company from $483.00 to $518.00 in a research note released on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the aerospace company’s stock.

Several other research firms have also recently issued reports on NOC. StockNews.com upgraded shares of Northrop Grumman from a hold rating to a buy rating in a research report on Friday, April 26th. Susquehanna lifted their price target on shares of Northrop Grumman from $540.00 to $560.00 and gave the company a positive rating in a research report on Friday, April 26th. TheStreet lowered Northrop Grumman from a b+ rating to a c+ rating in a research report on Thursday, January 25th. Robert W. Baird lifted their target price on Northrop Grumman from $475.00 to $505.00 and gave the company a neutral rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada upped their price target on Northrop Grumman from $450.00 to $475.00 and gave the company a sector perform rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $509.38.

Northrop Grumman Trading Down 1.2 %

Shares of Northrop Grumman stock opened at $469.09 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $464.80 and its 200-day simple moving average is $465.95. The stock has a market cap of $69.42 billion, a P/E ratio of 32.80, a P/E/G ratio of 2.00 and a beta of 0.34. Northrop Grumman has a 1-year low of $414.56 and a 1-year high of $496.89.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The company had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same quarter in the previous year, the company posted $5.50 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts predict that Northrop Grumman will post 24.7 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were given a dividend of $1.87 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.48 annualized dividend and a dividend yield of 1.59%. Northrop Grumman’s dividend payout ratio is presently 52.31%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, CAO Michael A. Hardesty sold 955 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the transaction, the chief accounting officer now owns 4,137 shares of the company’s stock, valued at approximately $1,863,180.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Michael A. Hardesty sold 955 shares of Northrop Grumman stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the transaction, the chief accounting officer now owns 4,137 shares in the company, valued at approximately $1,863,180.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kathryn G. Simpson sold 1,273 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $573,321.01. Following the sale, the vice president now owns 2,735 shares in the company, valued at $1,231,761.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,149 shares of company stock worth $1,421,147. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Northrop Grumman

Several institutional investors have recently modified their holdings of NOC. Wesbanco Bank Inc. lifted its holdings in Northrop Grumman by 1.2% during the 3rd quarter. Wesbanco Bank Inc. now owns 1,782 shares of the aerospace company’s stock worth $784,000 after buying an additional 21 shares during the last quarter. Bogart Wealth LLC lifted its stake in Northrop Grumman by 14.1% during the first quarter. Bogart Wealth LLC now owns 170 shares of the aerospace company’s stock worth $81,000 after purchasing an additional 21 shares during the last quarter. Ausdal Financial Partners Inc. boosted its holdings in Northrop Grumman by 4.4% in the fourth quarter. Ausdal Financial Partners Inc. now owns 524 shares of the aerospace company’s stock valued at $245,000 after purchasing an additional 22 shares in the last quarter. Secure Asset Management LLC increased its stake in Northrop Grumman by 2.7% in the fourth quarter. Secure Asset Management LLC now owns 844 shares of the aerospace company’s stock valued at $395,000 after purchasing an additional 22 shares during the last quarter. Finally, Simon Quick Advisors LLC raised its holdings in Northrop Grumman by 4.0% during the third quarter. Simon Quick Advisors LLC now owns 604 shares of the aerospace company’s stock worth $266,000 after purchasing an additional 23 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other 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.