Northrop Grumman Co. (NYSE:NOC) Receives Average Rating of “Moderate Buy” from Brokerages

Northrop Grumman Co. (NYSE:NOC) has earned an average recommendation of “Moderate Buy” from the eighteen analysts that are covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $545.06.

Several equities analysts have weighed in on NOC shares. Royal Bank of Canada raised Northrop Grumman from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $500.00 to $575.00 in a report on Thursday. Wolfe Research raised Northrop Grumman from an “underperform” rating to a “peer perform” rating in a report on Monday, February 3rd. Truist Financial began coverage on Northrop Grumman in a research note on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Finally, Argus raised shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th.

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 464 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the completion of the transaction, the vice president now directly owns 245 shares in the company, valued at approximately $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the sale, the chief executive officer now owns 212,852 shares in the company, valued at $101,243,053.80. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,505 shares of company stock worth $2,126,405. Insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Prostatis Group LLC raised its position in Northrop Grumman by 23.2% in the 4th quarter. Prostatis Group LLC now owns 2,315 shares of the aerospace company’s stock worth $1,086,000 after purchasing an additional 436 shares during the period. DSG Capital Advisors LLC purchased a new position in shares of Northrop Grumman in the fourth quarter worth about $664,000. 111 Capital purchased a new position in shares of Northrop Grumman in the fourth quarter worth about $669,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Northrop Grumman by 106.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 59,612 shares of the aerospace company’s stock valued at $27,975,000 after acquiring an additional 30,787 shares during the last quarter. Finally, Lighthouse Financial LLC purchased a new stake in Northrop Grumman during the 4th quarter valued at about $939,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Northrop Grumman Trading Up 1.3 %

Shares of Northrop Grumman stock opened at $513.95 on Friday. The stock has a fifty day moving average price of $477.61 and a 200-day moving average price of $493.12. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The firm has a market cap of $74.40 billion, a PE ratio of 18.14, a P/E/G ratio of 3.73 and a beta of 0.31. Northrop Grumman has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS 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%. Equities research analysts anticipate that Northrop Grumman will post 28.05 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were issued a $2.06 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $8.24 annualized dividend and a dividend yield of 1.60%. Northrop Grumman’s payout ratio is currently 29.08%.

Northrop Grumman declared that its Board of Directors has approved a stock buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the aerospace company to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

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.