Northrop Grumman (NYSE:NOC) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Northrop Grumman (NYSE:NOC) from an underperform rating to a peer perform rating in a research note issued to investors on Monday, MarketBeat.com reports.

A number of other research analysts also recently commented on NOC. StockNews.com raised Northrop Grumman from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 19th. JPMorgan Chase & Co. raised their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Susquehanna lowered their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Barclays reduced their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Finally, TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $544.31.

Northrop Grumman Stock Down 2.3 %

Shares of NYSE:NOC opened at $471.17 on Monday. The firm has a market cap of $68.20 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35. The company has a fifty day simple moving average of $478.14 and a 200 day simple moving average of $499.42. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96. Northrop Grumman has a 12-month low of $418.60 and a 12-month high of $555.57.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. On average, equities research analysts anticipate that Northrop Grumman will post 28.04 EPS for the current fiscal year.

Northrop Grumman Announces Dividend

The firm 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. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.75%. Northrop Grumman’s payout ratio is 29.08%.

Northrop Grumman announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

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 transaction of $616,067.08. Following the sale, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,222 shares of company stock valued at $647,025 over the last 90 days. 0.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. SRS Capital Advisors Inc. boosted its stake in Northrop Grumman by 810.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 856 shares of the aerospace company’s stock valued at $402,000 after purchasing an additional 762 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Northrop Grumman by 40.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,275 shares of the aerospace company’s stock worth $595,000 after buying an additional 368 shares in the last quarter. Jacobi Capital Management LLC lifted its holdings in shares of Northrop Grumman by 1.2% in the fourth quarter. Jacobi Capital Management LLC now owns 1,987 shares of the aerospace company’s stock valued at $933,000 after buying an additional 23 shares during the period. Metis Global Partners LLC boosted its stake in Northrop Grumman by 2.3% during the fourth quarter. Metis Global Partners LLC now owns 6,020 shares of the aerospace company’s stock valued at $2,825,000 after buying an additional 133 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in Northrop Grumman during the fourth quarter worth about $1,730,000. Institutional investors and hedge funds 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.