Stifel Nicolaus Reiterates “Hold” Rating for Northrop Grumman (NOC)

Northrop Grumman (NYSE:NOC)‘s stock had its “hold” rating restated by Stifel Nicolaus in a research report issued to clients and investors on Tuesday. They presently have a $315.00 price objective on the aerospace company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 1.76% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Bank of America set a $350.00 target price on Northrop Grumman and gave the stock a “buy” rating in a research note on Friday, October 27th. JPMorgan Chase & Co. raised Northrop Grumman from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $317.00 to $355.00 in a research note on Tuesday, December 12th. Royal Bank of Canada set a $374.00 target price on Northrop Grumman and gave the stock a “buy” rating in a research note on Thursday, November 16th. Finally, Deutsche Bank reissued a “buy” rating and set a $325.00 target price (up previously from $285.00) on shares of Northrop Grumman in a research note on Monday, October 2nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $299.67.

Shares of Northrop Grumman (NOC) traded up $1.96 during trading on Tuesday, hitting $309.55. The stock had a trading volume of 493,165 shares, compared to its average volume of 808,966. Northrop Grumman has a twelve month low of $223.88 and a twelve month high of $312.93. The firm has a market cap of $53,890.00, a price-to-earnings ratio of 23.07, a PEG ratio of 3.03 and a beta of 0.69. The company has a current ratio of 1.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.76. Northrop Grumman had a return on equity of 41.69% and a net margin of 9.88%. The business had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same quarter in the prior year, the company posted $3.35 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. research analysts expect that Northrop Grumman will post 13.19 earnings per share for the current year.

In other Northrop Grumman news, COO Gloria A. Flach sold 7,741 shares of the stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $296.45, for a total value of $2,294,819.45. Following the sale, the chief operating officer now owns 77,200 shares of the company’s stock, valued at approximately $22,885,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sid Ashworth sold 6,311 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $298.00, for a total value of $1,880,678.00. Following the completion of the sale, the vice president now directly owns 63,147 shares in the company, valued at approximately $18,817,806. The disclosure for this sale can be found here. Insiders sold a total of 21,417 shares of company stock worth $6,365,189 in the last ninety days. 0.70% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Hanseatic Management Services Inc. raised its position in Northrop Grumman by 12.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock valued at $109,000 after purchasing an additional 48 shares in the last quarter. People s United Financial Inc. raised its position in Northrop Grumman by 9.2% in the 2nd quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock valued at $122,000 after purchasing an additional 40 shares in the last quarter. Ropes Wealth Advisors LLC acquired a new stake in Northrop Grumman in the 3rd quarter valued at about $144,000. Quadrant Capital Group LLC raised its position in Northrop Grumman by 7.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 636 shares of the aerospace company’s stock valued at $147,000 after purchasing an additional 46 shares in the last quarter. Finally, WFG Advisors LP raised its position in Northrop Grumman by 4.9% in the 2nd quarter. WFG Advisors LP now owns 594 shares of the aerospace company’s stock valued at $152,000 after purchasing an additional 28 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

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About Northrop Grumman

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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