Northrop Grumman (NOC) Downgraded by Goldman Sachs Group

Northrop Grumman (NYSE:NOC) was downgraded by stock analysts at Goldman Sachs Group from a “conviction-buy” rating to a “buy” rating in a research note issued to investors on Tuesday, The Fly reports.

NOC has been the subject of a number of other research reports. Bank of America set a $350.00 price objective on Northrop Grumman and gave the stock a “buy” rating in a research report on Friday, October 27th. Royal Bank of Canada set a $374.00 price objective on Northrop Grumman and gave the stock a “buy” rating in a research report on Thursday, November 16th. Cowen reissued a “hold” rating and issued a $300.00 price objective (up previously from $275.00) on shares of Northrop Grumman in a research report on Thursday, October 26th. Stifel Nicolaus raised their price objective on Northrop Grumman from $255.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, ValuEngine raised Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Northrop Grumman currently has an average rating of “Buy” and a consensus price target of $326.21.

Northrop Grumman (NYSE:NOC) opened at $356.00 on Tuesday. Northrop Grumman has a fifty-two week low of $233.20 and a fifty-two week high of $358.84. The stock has a market capitalization of $61,975.19, a price-to-earnings ratio of 31.04, a PEG ratio of 2.56 and a beta of 0.82. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.35 and a quick ratio of 2.24.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 25th. The aerospace company reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.75 by $0.07. The firm had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $6.34 billion. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.96 EPS. sell-side analysts anticipate that Northrop Grumman will post 15.2 earnings per share for the current fiscal year.

In other Northrop Grumman news, VP Denise M. Peppard sold 2,539 shares of Northrop Grumman stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $335.12, for a total transaction of $850,869.68. Following the completion of the sale, the vice president now owns 38,613 shares of the company’s stock, valued at approximately $12,939,988.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of NOC. Icon Wealth Partners LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at about $100,000. Truewealth LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at about $110,000. Ropes Wealth Advisors LLC acquired a new position in shares of Northrop Grumman in the 3rd quarter valued at about $144,000. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Northrop Grumman in the 3rd quarter valued at about $154,000. Finally, Crewe Advisors LLC acquired a new position in shares of Northrop Grumman in the 4th quarter valued at about $159,000. 81.18% of the stock is owned by institutional investors.

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About Northrop Grumman

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

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