Wells Fargo & Company Lowers Northrop Grumman (NYSE:NOC) Price Target to $545.00

Northrop Grumman (NYSE:NOC) had its price target lowered by investment analysts at Wells Fargo & Company from $574.00 to $545.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 19.48% from the company’s previous close.

A number of other brokerages have also weighed in on NOC. Barclays cut their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Susquehanna lowered their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. UBS Group decreased their price target on shares of Northrop Grumman from $579.00 to $558.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, Citigroup increased their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $542.75.

Northrop Grumman Price Performance

Shares of NYSE NOC opened at $456.15 on Wednesday. The business’s 50 day moving average is $469.99 and its 200-day moving average is $497.05. The firm has a market cap of $66.03 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. Northrop Grumman has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

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

Northrop Grumman declared that its Board of Directors has authorized a share repurchase program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, VP Benjamin R. Davies sold 192 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the transaction, the vice president now owns 709 shares of the company’s stock, valued at $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 291 shares of company stock worth $129,184. 0.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northrop Grumman

Several institutional investors have recently modified their holdings of NOC. RPg Family Wealth Advisory LLC purchased a new position in Northrop Grumman in the 3rd quarter worth approximately $31,000. Whipplewood Advisors LLC purchased a new position in shares of Northrop Grumman in the fourth quarter worth $31,000. Albion Financial Group UT purchased a new stake in Northrop Grumman in the fourth quarter worth about $33,000. Bellwether Advisors LLC purchased a new position in shares of Northrop Grumman during the 4th quarter worth approximately $33,000. Finally, FSA Wealth Management LLC bought a new position in shares of Northrop Grumman in the 3rd quarter worth approximately $36,000. 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.