Northrop Grumman (NYSE:NOC) PT Raised to $437.00

Northrop Grumman (NYSE:NOC) had its price target boosted by equities research analysts at Morgan Stanley from $418.00 to $437.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the aerospace company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 20.64% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of Northrop Grumman from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $377.00 price objective for the company in a research report on Tuesday, September 10th. Bank of America reiterated a “buy” rating and set a $405.00 price objective (up previously from $355.00) on shares of Northrop Grumman in a research report on Thursday, July 25th. Sanford C. Bernstein increased their price objective on shares of Northrop Grumman from $344.00 to $368.00 in a research report on Thursday, July 25th. Finally, UBS Group increased their price objective on shares of Northrop Grumman from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $353.87.

Shares of NYSE:NOC opened at $362.22 on Thursday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.15 and a current ratio of 1.25. The firm has a fifty day moving average price of $367.89 and a 200 day moving average price of $326.44. Northrop Grumman has a fifty-two week low of $223.63 and a fifty-two week high of $383.89. The firm has a market cap of $62.20 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 1.51 and a beta of 0.80.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.64 by $0.42. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. The firm had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.41 billion. During the same quarter in the prior year, the business earned $4.50 earnings per share. Northrop Grumman’s revenue for the quarter was up 18.8% on a year-over-year basis. As a group, research analysts predict that Northrop Grumman will post 19.64 earnings per share for the current year.

In other news, VP Christopher T. Jones sold 5,000 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $353.19, for a total value of $1,765,950.00. Following the sale, the vice president now owns 67,422 shares of the company’s stock, valued at $23,812,776.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kathy J. Warden sold 6,837 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the completion of the sale, the chief executive officer now directly owns 99,002 shares in the company, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in NOC. Krane Funds Advisors LLC purchased a new position in Northrop Grumman in the 2nd quarter worth about $26,000. Massey Quick Simon & CO. LLC purchased a new position in Northrop Grumman during the 2nd quarter valued at about $27,000. Meridian Wealth Management LLC purchased a new position in Northrop Grumman during the 1st quarter valued at about $29,000. Virtus ETF Advisers LLC purchased a new position in Northrop Grumman during the 2nd quarter valued at about $30,000. Finally, Kavar Capital Partners LLC purchased a new position in Northrop Grumman during the 2nd quarter valued at about $36,000. 83.09% of the stock is currently owned by institutional investors and hedge funds.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

See Also: P/E Growth (PEG)

Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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