Citigroup Issues Positive Forecast for Northrop Grumman (NYSE:NOC) Stock Price

Northrop Grumman (NYSE:NOC) had its price target hoisted by equities research analysts at Citigroup from $587.00 to $591.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Citigroup’s price objective would indicate a potential upside of 24.80% from the stock’s current price.

Several other analysts have also recently commented on the stock. Royal Bank of Canada raised their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Barclays dropped their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Truist Financial assumed coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. StockNews.com lowered Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $544.56.

Northrop Grumman Stock Performance

NYSE NOC opened at $473.58 on Monday. The business’s 50-day moving average price is $476.69 and its 200 day moving average price is $500.03. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. The firm has a market cap of $68.55 billion, a P/E ratio of 16.71, a P/E/G ratio of 3.00 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 announced its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. On average, equities research analysts expect that Northrop Grumman will post 27.94 earnings per share for the current year.

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

Institutional Investors Weigh In On Northrop Grumman

A number of large investors have recently bought and sold shares of NOC. RPg Family Wealth Advisory LLC purchased a new stake in shares of Northrop Grumman in the third quarter valued at $31,000. Whipplewood Advisors LLC acquired a new position in Northrop Grumman in the 4th quarter valued at about $31,000. Albion Financial Group UT purchased a new position in Northrop Grumman in the 4th quarter valued at about $33,000. FSA Wealth Management LLC acquired a new stake in shares of Northrop Grumman during the 3rd quarter worth about $36,000. Finally, Modus Advisors LLC purchased a new stake in shares of Northrop Grumman during the fourth quarter worth about $38,000. Institutional investors and hedge funds 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.