Northrop Grumman Co. (NYSE:NOC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Northrop Grumman Co. (NYSE:NOC) have been given a consensus rating of “Moderate Buy” by the sixteen research firms that are covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $550.94.

A number of brokerages have recently issued reports on NOC. JPMorgan Chase & Co. increased their price target 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. Truist Financial started coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target for the company. Royal Bank of Canada boosted their target price on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. StockNews.com upgraded shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. Finally, Wells Fargo & Company raised shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target for the company in a research note on Wednesday, January 8th.

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 transaction of $616,067.08. Following the completion of the sale, the vice president now owns 537 shares of the company’s stock, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 1,255 shares of company stock worth $663,859 over the last three months. 0.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Northrop Grumman

Several institutional investors have recently added to or reduced their stakes in the business. Avestar Capital LLC lifted its holdings in shares of Northrop Grumman by 9.5% during the fourth quarter. Avestar Capital LLC now owns 677 shares of the aerospace company’s stock valued at $318,000 after purchasing an additional 59 shares in the last quarter. Kentucky Trust Co purchased a new position in Northrop Grumman in the 4th quarter worth about $94,000. Gladstone Institutional Advisory LLC lifted its stake in Northrop Grumman by 3.3% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 813 shares of the aerospace company’s stock valued at $382,000 after acquiring an additional 26 shares during the period. Signet Investment Advisory Group Inc. boosted its holdings in shares of Northrop Grumman by 7.2% during the 4th quarter. Signet Investment Advisory Group Inc. now owns 4,693 shares of the aerospace company’s stock valued at $2,202,000 after acquiring an additional 316 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. grew its stake in shares of Northrop Grumman by 0.3% in the fourth quarter. TCV Trust & Wealth Management Inc. now owns 20,679 shares of the aerospace company’s stock worth $9,704,000 after acquiring an additional 62 shares during the period. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Stock Down 1.0 %

Shares of NYSE NOC opened at $481.56 on Thursday. The stock has a market capitalization of $70.16 billion, a PE ratio of 29.84, a P/E/G ratio of 0.95 and a beta of 0.35. 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’s fifty day moving average price is $478.87 and its 200-day moving average price is $497.74. Northrop Grumman has a one year low of $418.60 and a one year high of $555.57.

Northrop Grumman announced that its board has approved a share repurchase program on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s payout ratio is 51.05%.

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.