Northrop Grumman (NYSE:NOC) had its price objective hoisted by Robert W. Baird from $300.00 to $364.00 in a research note issued to investors on Wednesday morning, The Fly reports. Robert W. Baird currently has an outperform rating on the aerospace company’s stock.
A number of other analysts have also commented on NOC. Barclays reissued a buy rating on shares of Netflix in a report on Thursday, May 16th. ValuEngine raised Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Friday, May 17th. Alembic Global Advisors raised Northrop Grumman from a neutral rating to an overweight rating in a report on Tuesday, April 30th. UBS Group reaffirmed a buy rating and issued a $124.00 price objective on shares of Cie Gnrl des Etblsmnts Michelin SCA in a report on Thursday, April 25th. Finally, Morgan Stanley set a $18.00 price objective on PG&E and gave the stock a hold rating in a report on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $338.24.
Northrop Grumman stock opened at $329.53 on Wednesday. The company has a market cap of $55.95 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.32 and a beta of 0.80. The business has a fifty day simple moving average of $316.05. Northrop Grumman has a 12 month low of $223.63 and a 12 month high of $329.61. The company has a current ratio of 1.18, a quick ratio of 1.10 and a debt-to-equity ratio of 1.59.
Northrop Grumman (NYSE:NOC) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $5.06 EPS for the quarter, topping the Zacks’ consensus estimate of $4.59 by $0.47. The business had revenue of $8.19 billion during the quarter, compared to analyst estimates of $8.34 billion. Northrop Grumman had a return on equity of 41.42% and a net margin of 9.67%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the company earned $4.21 EPS. On average, research analysts expect that Northrop Grumman will post 19.41 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Monday, June 3rd were issued a $1.32 dividend. The ex-dividend date was Friday, May 31st. This represents a $5.28 annualized dividend and a dividend yield of 1.60%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.20. Northrop Grumman’s payout ratio is presently 24.75%.
In related news, Director Madeleine Kleiner sold 971 shares of Northrop Grumman stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $315.16, for a total transaction of $306,020.36. Following the transaction, the director now directly owns 16,675 shares in the company, valued at $5,255,293. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Wesley G. Bush sold 50,000 shares of Northrop Grumman stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $291.59, for a total value of $14,579,500.00. Following the transaction, the chairman now owns 46,275 shares in the company, valued at $13,493,327.25. The disclosure for this sale can be found here. Insiders sold 52,903 shares of company stock valued at $15,484,440 in the last ninety days. 0.45% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. lifted its position in shares of Northrop Grumman by 4.9% in the fourth quarter. Macquarie Group Ltd. now owns 2,516,969 shares of the aerospace company’s stock valued at $616,406,000 after acquiring an additional 117,707 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Northrop Grumman by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 2,002,473 shares of the aerospace company’s stock valued at $489,450,000 after acquiring an additional 56,098 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Northrop Grumman by 0.4% in the first quarter. Parametric Portfolio Associates LLC now owns 610,718 shares of the aerospace company’s stock valued at $164,650,000 after acquiring an additional 2,698 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Northrop Grumman by 0.3% in the first quarter. PNC Financial Services Group Inc. now owns 577,273 shares of the aerospace company’s stock valued at $155,632,000 after acquiring an additional 1,833 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Northrop Grumman by 198.8% in the fourth quarter. Millennium Management LLC now owns 568,441 shares of the aerospace company’s stock valued at $139,211,000 after acquiring an additional 378,176 shares in the last quarter. Institutional investors own 83.20% of the company’s stock.
About Northrop Grumman
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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