Susquehanna Cuts Northrop Grumman (NYSE:NOC) Price Target to $557.00

Northrop Grumman (NYSE:NOC) had its price target reduced by Susquehanna from $625.00 to $557.00 in a research note released on Wednesday,Benzinga reports. They currently have a positive rating on the aerospace company’s stock.

Other equities analysts have also issued research reports about the company. UBS Group lifted their price objective on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada boosted their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Barclays dropped their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Finally, Citigroup lifted their price objective on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Northrop Grumman currently has a consensus rating of “Hold” and a consensus target price of $551.40.

Northrop Grumman Trading Down 0.8 %

Shares of NYSE:NOC opened at $458.37 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman has a 52-week low of $418.60 and a 52-week high of $555.57. The stock has a market cap of $66.78 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 0.97 and a beta of 0.35. The business has a 50-day moving average price of $484.74 and a 200-day moving average price of $492.20.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating the consensus estimate of $6.07 by $0.93. The business had revenue of $10 billion during 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 business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $6.18 EPS. Equities analysts predict that Northrop Grumman will post 25.93 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $2.06 per share. The ex-dividend date was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.80%. Northrop Grumman’s payout ratio is presently 51.05%.

Northrop Grumman declared that its board has authorized a share buyback program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were 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. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 1,255 shares of company stock worth $663,859 in the last ninety days. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC purchased a new position in shares of Northrop Grumman during the 3rd quarter worth $31,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman during the third quarter worth about $36,000. Meeder Asset Management Inc. raised its stake in shares of Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 54 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Northrop Grumman in the 3rd quarter worth approximately $40,000. Finally, Modus Advisors LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth approximately $38,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

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.