Citigroup Raises Northrop Grumman (NYSE:NOC) Price Target to $587.00

Northrop Grumman (NYSE:NOC) had its price target hoisted by Citigroup from $521.00 to $587.00 in a report published on Thursday, Benzinga reports. They currently have a neutral rating on the aerospace company’s stock.

Several other analysts have also recently weighed in on NOC. Barclays boosted their price target on Northrop Grumman from $470.00 to $500.00 and gave the stock an equal weight rating in a report on Tuesday, July 30th. Wells Fargo & Company upped their price target on shares of Northrop Grumman from $467.00 to $509.00 and gave the company an equal weight rating in a research report on Friday, July 26th. Morgan Stanley lifted their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an overweight rating in a report on Friday, August 9th. Jefferies Financial Group decreased their price objective on Northrop Grumman from $530.00 to $500.00 and set a hold rating for the company in a report on Tuesday, June 18th. Finally, StockNews.com raised Northrop Grumman from a hold rating to a buy rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $527.19.

Northrop Grumman Price Performance

Northrop Grumman stock traded up $1.85 during midday trading on Thursday, reaching $528.94. The company’s stock had a trading volume of 13,915 shares, compared to its average volume of 877,070. The business has a 50-day moving average price of $517.12 and a 200-day moving average price of $476.52. Northrop Grumman has a 52 week low of $418.60 and a 52 week high of $555.57. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. The stock has a market cap of $77.35 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 2.44 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, beating the consensus estimate of $5.93 by $0.43. The business had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.34 EPS. On average, sell-side analysts predict that Northrop Grumman will post 25.16 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s dividend payout ratio (DPR) is currently 53.79%.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the sale, the vice president now owns 6,755 shares in the company, valued at approximately $3,225,917.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $477.56, for a total value of $663,330.84. Following the sale, the vice president now owns 6,755 shares of the company’s stock, valued at $3,225,917.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,879 shares of company stock valued at $1,410,703. Company insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Northrop Grumman

A number of hedge funds have recently bought and sold shares of the company. Optimum Investment Advisors grew its holdings in shares of Northrop Grumman by 241.2% in the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 41 shares in the last quarter. Bank & Trust Co purchased a new stake in shares of Northrop Grumman during the 2nd quarter valued at $28,000. Meeder Asset Management Inc. increased its position in shares of Northrop Grumman by 245.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares during the last quarter. Rise Advisors LLC bought a new stake in shares of Northrop Grumman during the 1st quarter worth $38,000. Finally, Riverview Trust Co purchased a new position in shares of Northrop Grumman in the 1st quarter worth about $47,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

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.