Northrop Grumman (NYSE:NOC) Price Target Raised to $475.00 at Royal Bank of Canada

Northrop Grumman (NYSE:NOC) had its price objective increased by Royal Bank of Canada from $450.00 to $475.00 in a report issued on Friday, Benzinga reports. They currently have a sector perform rating on the aerospace company’s stock.

Other research analysts also recently issued reports about the company. StockNews.com downgraded Northrop Grumman from a buy rating to a hold rating in a research report on Monday, January 29th. Alembic Global Advisors upgraded shares of Northrop Grumman from a neutral rating to an overweight rating and set a $532.00 target price for the company in a research note on Monday, April 22nd. Robert W. Baird raised their price target on shares of Northrop Grumman from $475.00 to $505.00 and gave the stock a neutral rating in a research report on Friday. Susquehanna upped their price objective on shares of Northrop Grumman from $540.00 to $560.00 and gave the company a positive rating in a research report on Friday. Finally, TheStreet lowered Northrop Grumman from a b+ rating to a c+ rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Northrop Grumman presently has a consensus rating of Hold and an average price target of $503.00.

Northrop Grumman Stock Performance

Shares of NOC opened at $480.53 on Friday. The firm has a market cap of $71.21 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 1.96 and a beta of 0.35. Northrop Grumman has a 12 month low of $414.56 and a 12 month high of $496.89. The company’s fifty day moving average is $462.59 and its 200-day moving average is $465.77. The company has a quick ratio of 1.05, a current ratio of 1.13 and a debt-to-equity ratio of 1.04.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. The business had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. Northrop Grumman’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $5.50 earnings per share. Equities analysts expect that Northrop Grumman will post 24.67 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were issued a $1.87 dividend. This represents a $7.48 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, February 23rd. Northrop Grumman’s payout ratio is 52.31%.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Kathryn G. Simpson sold 1,273 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $573,321.01. Following the sale, the vice president now directly owns 2,735 shares of the company’s stock, valued at $1,231,761.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Michael A. Hardesty sold 955 shares of Northrop Grumman stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the transaction, the chief accounting officer now directly owns 4,137 shares of the company’s stock, valued at $1,863,180.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kathryn G. Simpson sold 1,273 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $573,321.01. Following the sale, the vice president now directly owns 2,735 shares in the company, valued at approximately $1,231,761.95. The disclosure for this sale can be found here. Insiders sold 3,149 shares of company stock valued at $1,421,147 in the last ninety days. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Northrop Grumman

A number of large investors have recently modified their holdings of NOC. London Co. of Virginia bought a new position in Northrop Grumman in the 3rd quarter valued at $165,786,000. Invesco Ltd. increased its position in Northrop Grumman by 74.7% in the third quarter. Invesco Ltd. now owns 1,174,556 shares of the aerospace company’s stock worth $517,028,000 after purchasing an additional 502,060 shares during the period. Raymond James Trust N.A. raised its holdings in Northrop Grumman by 19.7% during the 4th quarter. Raymond James Trust N.A. now owns 16,515 shares of the aerospace company’s stock worth $7,731,000 after purchasing an additional 2,723 shares during the last quarter. Phraction Management LLC acquired a new position in Northrop Grumman during the 3rd quarter valued at about $677,000. Finally, Cerity Partners LLC boosted its stake in shares of Northrop Grumman by 2,801.7% in the 4th quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock valued at $154,720,000 after purchasing an additional 319,109 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

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.