Northrop Grumman (NYSE:NOC) Cut to “Strong Sell” at ValuEngine

ValuEngine lowered shares of Northrop Grumman (NYSE:NOC) from a sell rating to a strong sell rating in a report issued on Tuesday, ValuEngine reports.

A number of other equities research analysts also recently issued reports on NOC. Barclays set a $415.00 price target on Northrop Grumman and gave the company a buy rating in a research report on Tuesday, October 8th. Sanford C. Bernstein raised their price objective on Northrop Grumman from $374.00 to $385.00 and gave the stock a market perform rating in a report on Friday, October 25th. Morgan Stanley lifted their price objective on Northrop Grumman from $418.00 to $437.00 and gave the company an overweight rating in a research note on Thursday, October 10th. Finally, Zacks Investment Research upgraded Northrop Grumman from a hold rating to a buy rating and set a $377.00 target price for the company in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $365.08.

NYSE:NOC traded up $0.35 during trading hours on Tuesday, reaching $344.76. 926,387 shares of the company were exchanged, compared to its average volume of 951,448. The firm has a market cap of $58.10 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 1.32 and a beta of 0.77. The stock has a 50 day simple moving average of $350.15 and a 200 day simple moving average of $345.24. Northrop Grumman has a 52-week low of $223.63 and a 52-week high of $383.89. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.29 and a quick ratio of 1.19.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $5.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.74 by $0.75. The company had revenue of $8.48 billion during the quarter, compared to analysts’ expectations of $8.56 billion. Northrop Grumman had a net margin of 9.05% and a return on equity of 39.12%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $6.54 EPS. On average, analysts predict that Northrop Grumman will post 20.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, November 29th. Northrop Grumman’s dividend payout ratio (DPR) is presently 24.75%.

Several hedge funds and other institutional investors have recently modified their holdings of NOC. BB&T Corp raised its stake in shares of Northrop Grumman by 7.6% during the second quarter. BB&T Corp now owns 3,815 shares of the aerospace company’s stock valued at $1,232,000 after purchasing an additional 269 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Northrop Grumman by 2.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 7,733 shares of the aerospace company’s stock worth $2,498,000 after buying an additional 208 shares in the last quarter. Greenleaf Trust boosted its position in Northrop Grumman by 4.4% in the 2nd quarter. Greenleaf Trust now owns 1,504 shares of the aerospace company’s stock valued at $486,000 after buying an additional 64 shares during the last quarter. Brookstone Capital Management purchased a new position in Northrop Grumman in the 2nd quarter valued at about $204,000. Finally, HCR Wealth Advisors acquired a new stake in shares of Northrop Grumman during the second quarter valued at about $253,000. 82.92% of the stock is owned by institutional investors.

Northrop Grumman Company Profile

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.

Further Reading: Forex

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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