Recent Research Analysts’ Ratings Updates for Northrop Grumman (NOC)

Northrop Grumman (NYSE: NOC) has recently received a number of price target changes and ratings updates:

  • 7/4/2024 – Northrop Grumman was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 6/26/2024 – Northrop Grumman is now covered by analysts at BTIG Research. They set a “buy” rating and a $565.00 price target on the stock.
  • 6/24/2024 – Northrop Grumman was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 6/21/2024 – Northrop Grumman was downgraded by analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating. They now have a $477.00 price target on the stock.
  • 6/18/2024 – Northrop Grumman had its price target lowered by analysts at Jefferies Financial Group Inc. from $530.00 to $500.00. They now have a “hold” rating on the stock.
  • 6/18/2024 – Northrop Grumman had its price target raised by analysts at Wells Fargo & Company from $483.00 to $518.00.

Northrop Grumman Price Performance

NYSE:NOC opened at $423.69 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 1.04. The business’s 50-day simple moving average is $449.56 and its two-hundred day simple moving average is $457.71. The stock has a market cap of $62.70 billion, a PE ratio of 29.63, a P/E/G ratio of 2.03 and a beta of 0.33. Northrop Grumman Co. has a 52 week low of $414.56 and a 52 week high of $496.89.

Northrop Grumman (NYSE:NOCGet Free Report) last issued its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The firm had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same period in the previous year, the firm posted $5.50 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. As a group, analysts forecast that Northrop Grumman Co. will post 24.7 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.94%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. The ex-dividend date of this dividend was Friday, May 24th. Northrop Grumman’s payout ratio is 57.62%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOC. Capital International Investors grew its position in Northrop Grumman by 5.6% in the first quarter. Capital International Investors now owns 11,747,646 shares of the aerospace company’s stock worth $5,623,128,000 after acquiring an additional 621,636 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Northrop Grumman in the fourth quarter worth about $283,114,000. Cerity Partners LLC grew its position in Northrop Grumman by 2,801.7% in the fourth quarter. Cerity Partners LLC now owns 330,499 shares of the aerospace company’s stock worth $154,720,000 after acquiring an additional 319,109 shares in the last quarter. Focused Investors Fund L P purchased a new position in Northrop Grumman in the first quarter worth about $108,369,000. Finally, JPMorgan Chase & Co. grew its position in Northrop Grumman by 4.8% in the first quarter. JPMorgan Chase & Co. now owns 4,634,043 shares of the aerospace company’s stock worth $2,218,132,000 after acquiring an additional 211,459 shares in the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

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.

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