Northrop Grumman (NYSE:NOC) Downgraded to “Buy” Rating by StockNews.com

StockNews.com lowered shares of Northrop Grumman (NYSE:NOC) from a strong-buy rating to a buy rating in a research report report published on Thursday.

Several other analysts have also weighed in on NOC. JPMorgan Chase & Co. increased their price target on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. UBS Group raised their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada upped their price target on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research note on Tuesday, August 27th. Finally, TD Cowen raised Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Northrop Grumman currently has a consensus rating of “Hold” and a consensus price target of $550.56.

Northrop Grumman Price Performance

NOC stock opened at $489.08 on Thursday. Northrop Grumman has a 52 week low of $418.60 and a 52 week high of $555.57. The firm has a market capitalization of $71.26 billion, a P/E ratio of 30.30, a price-to-earnings-growth ratio of 0.98 and a beta of 0.35. The company has a fifty day simple moving average of $517.90 and a two-hundred day simple moving average of $487.15. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The firm had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter last year, the firm earned $6.18 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts anticipate that Northrop Grumman will post 25.93 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a $2.06 dividend. The ex-dividend date is Monday, December 2nd. This represents a $8.24 annualized dividend and a dividend yield of 1.68%. Northrop Grumman’s dividend payout ratio is currently 51.05%.

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the sale, the vice president now directly owns 537 shares in the company, valued at $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have sold 1,255 shares of company stock worth $667,727. Corporate insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Northrop Grumman

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOC. Van ECK Associates Corp boosted its holdings in shares of Northrop Grumman by 1,915.9% in the 2nd quarter. Van ECK Associates Corp now owns 438,521 shares of the aerospace company’s stock valued at $191,173,000 after buying an additional 416,768 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Northrop Grumman by 102.6% in the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after acquiring an additional 372,500 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Northrop Grumman in the second quarter worth $90,177,000. Marshall Wace LLP acquired a new position in shares of Northrop Grumman during the second quarter worth $74,206,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Northrop Grumman by 113.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 296,844 shares of the aerospace company’s stock valued at $129,409,000 after purchasing an additional 157,854 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

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.