Northrop Grumman (NYSE:NOC) Upgraded by StockNews.com to Strong-Buy Rating

Northrop Grumman (NYSE:NOC) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday.

Other research analysts also recently issued research reports about the company. Citigroup upped their price objective on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. increased their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a research report on Monday, October 14th. UBS Group lifted their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company reduced their target price on shares of Northrop Grumman from $565.00 to $505.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Finally, Barclays lifted their price target on shares of Northrop Grumman from $500.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Ten equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Northrop Grumman has a consensus rating of “Hold” and a consensus price target of $553.27.

Northrop Grumman Stock Down 0.0 %

NOC opened at $467.82 on Friday. Northrop Grumman has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The firm has a market capitalization of $68.16 billion, a P/E ratio of 28.99, a PEG ratio of 0.97 and a beta of 0.35. The company’s 50-day moving average is $489.68 and its 200 day moving average is $491.21. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping the consensus estimate of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.18 EPS. Research analysts expect that Northrop Grumman will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman declared that its board has approved a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now directly owns 537 shares in the company, valued at $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 1,255 shares of company stock valued at $666,461. Corporate insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Modus Advisors LLC purchased a new stake in Northrop Grumman in the fourth quarter valued at approximately $38,000. Principal Financial Group Inc. increased its holdings in shares of Northrop Grumman by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 166,434 shares of the aerospace company’s stock worth $87,889,000 after buying an additional 4,969 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of Northrop Grumman by 13.7% during the 3rd quarter. Lord Abbett & CO. LLC now owns 330,647 shares of the aerospace company’s stock valued at $174,605,000 after buying an additional 39,780 shares in the last quarter. Birmingham Capital Management Co. Inc. AL bought a new stake in shares of Northrop Grumman during the 3rd quarter worth $224,000. Finally, Copley Financial Group Inc. purchased a new position in Northrop Grumman in the third quarter worth $479,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.