Northrop Grumman (NYSE:NOC) Price Target Lowered to $574.00 at Wells Fargo & Company

Northrop Grumman (NYSE:NOC) had its target price lowered by Wells Fargo & Company from $595.00 to $574.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the aerospace company’s stock.

NOC has been the topic of several other research reports. UBS Group upped their price objective on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Susquehanna reduced their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their price objective on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Finally, StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and an average target price of $544.31.

Northrop Grumman Trading Up 0.7 %

Shares of Northrop Grumman stock opened at $486.97 on Friday. The stock has a market cap of $70.95 billion, a P/E ratio of 30.17, a P/E/G ratio of 0.91 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman has a 12-month low of $418.60 and a 12-month high of $555.57. The business’s 50 day moving average is $478.20 and its 200-day moving average is $497.91.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results 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 net margin of 5.79% and a return on equity of 26.57%. Equities research analysts predict that Northrop Grumman will post 25.96 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s dividend payout ratio (DPR) is currently 29.08%.

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

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 1,255 shares of company stock valued at $663,859 over the last quarter. 0.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On Northrop Grumman

A number of large investors have recently modified their holdings of NOC. Cornell Pochily Investment Advisors Inc. lifted its position in shares of Northrop Grumman by 0.9% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock worth $1,131,000 after buying an additional 20 shares during the last quarter. Asset Dedication LLC raised its stake in Northrop Grumman by 1.0% during the third quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock worth $1,069,000 after acquiring an additional 20 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in Northrop Grumman by 1.4% during the third quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock worth $780,000 after acquiring an additional 20 shares in the last quarter. PBMares Wealth Management LLC lifted its holdings in shares of Northrop Grumman by 0.5% in the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after acquiring an additional 20 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV boosted its stake in shares of Northrop Grumman by 0.9% in the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock valued at $1,194,000 after purchasing an additional 20 shares in 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.