Northrop Grumman (NYSE:NOC) Price Target Raised to $364.00 at Robert W. Baird

Northrop Grumman (NYSE:NOC) had its price target boosted by Robert W. Baird from $300.00 to $364.00 in a report released on Wednesday, The Fly reports. The firm currently has an outperform rating on the aerospace company’s stock.

Several other research firms have also recently weighed in on NOC. Barclays restated a buy rating on shares of Netflix in a research report on Thursday, May 16th. Susquehanna Bancshares upgraded shares of Northrop Grumman from a neutral rating to a positive rating and upped their price objective for the stock from $309.00 to $315.00 in a research report on Friday, April 5th. Morgan Stanley set a $18.00 price objective on shares of PG&E and gave the stock a hold rating in a research report on Friday, June 14th. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, May 17th. Finally, UBS Group restated a buy rating and issued a $124.00 price objective on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Thursday, April 25th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $338.24.

NOC stock opened at $329.53 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.10 and a current ratio of 1.18. The stock has a 50 day moving average of $316.05. The company has a market capitalization of $55.17 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.31 and a beta of 0.80. Northrop Grumman has a 1-year low of $223.63 and a 1-year high of $329.61.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $5.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.59 by $0.47. The company had revenue of $8.19 billion for the quarter, compared to analysts’ expectations of $8.34 billion. Northrop Grumman had a net margin of 9.67% and a return on equity of 41.42%. Northrop Grumman’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.21 earnings per share. Equities analysts anticipate that Northrop Grumman will post 19.41 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Monday, June 3rd were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $5.28 annualized dividend and a yield of 1.60%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.20. Northrop Grumman’s dividend payout ratio is currently 24.75%.

In related news, VP Patrick M. Antkowiak sold 1,932 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $310.00, for a total value of $598,920.00. Following the completion of the sale, the vice president now owns 5,208 shares of the company’s stock, valued at $1,614,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Wesley G. Bush sold 50,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $291.59, for a total value of $14,579,500.00. Following the completion of the sale, the chairman now directly owns 46,275 shares of the company’s stock, valued at approximately $13,493,327.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,903 shares of company stock valued at $15,484,440. Insiders own 0.45% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of NOC. Macquarie Group Ltd. increased its holdings in shares of Northrop Grumman by 4.9% during the fourth quarter. Macquarie Group Ltd. now owns 2,516,969 shares of the aerospace company’s stock valued at $616,406,000 after acquiring an additional 117,707 shares in the last quarter. Geode Capital Management LLC increased its holdings in Northrop Grumman by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 2,002,473 shares of the aerospace company’s stock worth $489,450,000 after buying an additional 56,098 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in Northrop Grumman by 0.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 610,718 shares of the aerospace company’s stock worth $164,650,000 after buying an additional 2,698 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Northrop Grumman by 0.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 577,273 shares of the aerospace company’s stock worth $155,632,000 after buying an additional 1,833 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Northrop Grumman by 198.8% in the 4th quarter. Millennium Management LLC now owns 568,441 shares of the aerospace company’s stock worth $139,211,000 after buying an additional 378,176 shares in the last quarter. Institutional investors and hedge funds own 83.20% of the company’s stock.

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.

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The Fly

Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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