Northrop Grumman Co. (NYSE:NOC) Given Consensus Rating of “Hold” by Brokerages

Shares of Northrop Grumman Co. (NYSE:NOC) have earned a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $553.27.

NOC has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Susquehanna lifted their price objective on Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a report on Friday, October 25th. StockNews.com raised Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Friday. Wells Fargo & Company dropped their price target on Northrop Grumman from $565.00 to $505.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Finally, Citigroup increased their price objective on shares of Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th.

Northrop Grumman Stock Performance

NOC opened at $467.82 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The business has a fifty day simple moving average of $489.68 and a 200 day simple moving average of $491.21. Northrop Grumman has a 1 year low of $418.60 and a 1 year high of $555.57. The company has a market capitalization of $68.16 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 0.97 and a beta of 0.35.

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

Northrop Grumman declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Monday, December 2nd. Northrop Grumman’s payout ratio is 51.05%.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value of $616,067.08. Following the completion of the transaction, the vice president now owns 537 shares in the company, valued at $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 1,255 shares of company stock valued at $666,461. 0.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northrop Grumman

Hedge funds have recently modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman during the 3rd quarter worth about $31,000. Meeder Asset Management Inc. lifted its stake in shares of Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 54 shares during the period. FSA Wealth Management LLC bought a new stake in Northrop Grumman in the third quarter valued at approximately $36,000. Modus Advisors LLC acquired a new stake in Northrop Grumman during the 4th quarter valued at approximately $38,000. Finally, Catalyst Capital Advisors LLC bought a new position in Northrop Grumman during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 83.40% of the company’s stock.

Northrop Grumman Company Profile

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.