Northrop Grumman (NYSE:NOC) Price Target Raised to $600.00

Northrop Grumman (NYSE:NOC) had its price target boosted by Truist Financial from $545.00 to $600.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the aerospace company’s stock.

NOC has been the subject of several other reports. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Barclays cut their target price on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Argus raised Northrop Grumman to a “strong-buy” rating in a report on Wednesday, February 26th. Citigroup boosted their price target on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, The Goldman Sachs Group raised Northrop Grumman from a “sell” rating to a “neutral” rating and raised their price objective for the company from $424.00 to $521.00 in a research note on Friday, April 11th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and a consensus target price of $548.88.

Northrop Grumman Stock Performance

NYSE NOC opened at $539.96 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.01 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. The firm has a 50-day moving average price of $488.43 and a two-hundred day moving average price of $491.81. The company has a market capitalization of $77.83 billion, a P/E ratio of 19.05, a P/E/G ratio of 3.73 and a beta of 0.20.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Analysts anticipate that Northrop Grumman will post 28.05 earnings per share for the current year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Monday, March 3rd were given a dividend of $2.06 per share. The ex-dividend date was Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.53%. Northrop Grumman’s dividend payout ratio (DPR) is 29.08%.

Insider Buying and Selling at Northrop Grumman

In related news, VP Benjamin R. Davies sold 464 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $460.75, for a total transaction of $213,788.00. Following the sale, the vice president now owns 245 shares in the company, valued at $112,883.75. This represents a 65.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kathy J. Warden sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was 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 directly owns 212,852 shares of the company’s stock, valued at $101,243,053.80. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,505 shares of company stock valued at $2,127,182. 0.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Northrop Grumman

Institutional investors and hedge funds have recently modified their holdings of the business. Whipplewood Advisors LLC bought a new position in Northrop Grumman during the fourth quarter worth $31,000. Wood Tarver Financial Group LLC bought a new stake in Northrop Grumman in the fourth quarter valued at $32,000. Albion Financial Group UT acquired a new position in shares of Northrop Grumman during the fourth quarter valued at about $33,000. Bellwether Advisors LLC acquired a new position in shares of Northrop Grumman during the fourth quarter valued at about $33,000. Finally, Modus Advisors LLC acquired a new stake in shares of Northrop Grumman in the 4th quarter valued at about $38,000. 83.40% of the stock is currently owned by institutional investors.

Northrop Grumman Company Profile

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.