Northrop Grumman (NYSE:NOC) Price Target Raised to $591.00

Northrop Grumman (NYSE:NOC) had its target price increased by Citigroup from $587.00 to $591.00 in a report released on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the aerospace company’s stock.

Several other brokerages have also recently commented on NOC. Wolfe Research upgraded shares of Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Barclays cut their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. StockNews.com cut shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Susquehanna cut their target price on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $544.56.

Northrop Grumman Stock Down 0.5 %

Shares of NYSE NOC opened at $471.25 on Monday. 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 52 week low of $418.60 and a 52 week high of $555.57. The firm has a 50-day moving average price of $476.46 and a 200 day moving average price of $499.98. The stock has a market capitalization of $68.22 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 3.00 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. Equities research analysts anticipate that Northrop Grumman will post 27.94 EPS for the current fiscal year.

Northrop Grumman announced that its board has initiated a share repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.75%. Northrop Grumman’s payout ratio is 29.08%.

Institutional Investors Weigh In On Northrop Grumman

A number of institutional investors have recently bought and sold shares of the stock. Cornell Pochily Investment Advisors Inc. grew its holdings in Northrop Grumman by 0.9% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock valued at $1,131,000 after purchasing an additional 20 shares during the period. Asset Dedication LLC grew its holdings in Northrop Grumman by 1.0% in the third quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock valued at $1,069,000 after purchasing an additional 20 shares during the period. Foundations Investment Advisors LLC grew its holdings in Northrop Grumman by 1.4% in the third quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock valued at $780,000 after purchasing an additional 20 shares during the period. PBMares Wealth Management LLC grew its holdings in Northrop Grumman by 0.5% in the third quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock valued at $2,335,000 after purchasing an additional 20 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV grew its stake in Northrop Grumman by 0.9% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock worth $1,194,000 after buying an additional 20 shares during the period. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

About Northrop Grumman

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.