Northrop Grumman Corporation’s (NOC) “Hold” Rating Reiterated at Cowen and Company

Cowen and Company reiterated their hold rating on shares of Northrop Grumman Corporation (NYSE:NOC) in a research report released on Thursday morning. The brokerage currently has a $300.00 price objective on the aerospace company’s stock, up from their prior price objective of $275.00.

Several other equities analysts have also recently issued reports on the company. Goldman Sachs Group, Inc. (The) set a $320.00 price target on Northrop Grumman Corporation and gave the company a buy rating in a research report on Thursday. Royal Bank Of Canada boosted their price target on Northrop Grumman Corporation from $324.00 to $347.00 and gave the company an outperform rating in a research report on Thursday. Deutsche Bank AG restated a buy rating and issued a $325.00 price target (up previously from $285.00) on shares of Northrop Grumman Corporation in a research report on Monday, October 2nd. Jefferies Group LLC restated a hold rating and issued a $269.00 price target on shares of Northrop Grumman Corporation in a research report on Friday, September 29th. Finally, Zacks Investment Research cut Northrop Grumman Corporation from a buy rating to a hold rating in a research report on Tuesday, September 26th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $290.54.

Shares of Northrop Grumman Corporation (NOC) traded down 0.11% on Thursday, hitting $297.66. The stock had a trading volume of 643,117 shares. The stock has a 50 day moving average price of $286.70 and a 200-day moving average price of $265.61. The company has a market cap of $51.82 billion, a price-to-earnings ratio of 22.74 and a beta of 0.68. Northrop Grumman Corporation has a 12-month low of $220.72 and a 12-month high of $306.61.

Northrop Grumman Corporation (NYSE:NOC) last issued its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.76. The firm had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.33 billion. Northrop Grumman Corporation had a return on equity of 39.76% and a net margin of 9.24%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.35 EPS. On average, equities analysts expect that Northrop Grumman Corporation will post $12.89 earnings per share for the current year.

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In other news, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following the sale, the vice president now owns 961 shares of the company’s stock, valued at approximately $252,983.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of NOC. BlackRock Inc. lifted its stake in Northrop Grumman Corporation by 2,871.7% in the 1st quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock valued at $3,038,501,000 after buying an additional 12,345,491 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Northrop Grumman Corporation by 41,518.7% during the 2nd quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock worth $749,585,000 after purchasing an additional 2,912,953 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Northrop Grumman Corporation by 64.6% during the 1st quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock worth $749,119,000 after purchasing an additional 1,235,985 shares during the period. Winslow Capital Management LLC purchased a new position in shares of Northrop Grumman Corporation during the 1st quarter worth $198,691,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Northrop Grumman Corporation by 331.4% during the 1st quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock worth $235,271,000 after purchasing an additional 759,900 shares during the period. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Corporation Company Profile

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

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