UBS Group assumed coverage on shares of Northrop Grumman (NYSE:NOC – Get Free Report) in a research note issued to investors on Tuesday, FlyOnTheWall reports. The firm set a “buy” rating on the aerospace company’s stock.
Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company dropped their price objective on shares of Northrop Grumman from $485.00 to $435.00 and set an “equal weight” rating for the company in a research note on Monday, September 18th. Citigroup reduced their price objective on shares of Northrop Grumman from $502.00 to $485.00 and set a “neutral” rating on the stock in a research note on Friday, July 28th. Sanford C. Bernstein reduced their price objective on shares of Northrop Grumman from $581.00 to $569.00 in a research note on Friday, June 30th. Bank of America dropped their target price on shares of Northrop Grumman from $655.00 to $615.00 and set a “buy” rating on the stock in a report on Friday, July 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $500.00 price objective on shares of Northrop Grumman in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $503.00.
Northrop Grumman Trading Down 1.4 %
Shares of NOC traded down $6.49 on Tuesday, hitting $465.12. 1,382,156 shares of the stock traded hands, compared to its average volume of 853,731. The company has a quick ratio of 1.09, a current ratio of 1.20 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $70.37 billion, a P/E ratio of 15.41, a P/E/G ratio of 5.04 and a beta of 0.50. Northrop Grumman has a 1 year low of $414.56 and a 1 year high of $556.27. The stock’s 50 day moving average is $433.58 and its two-hundred day moving average is $446.75.
Northrop Grumman (NYSE:NOC – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The aerospace company reported $5.34 earnings per share for the quarter, topping the consensus estimate of $5.31 by $0.03. The company had revenue of $9.58 billion during the quarter, compared to analyst estimates of $9.32 billion. Northrop Grumman had a net margin of 12.27% and a return on equity of 24.90%. As a group, sell-side analysts predict that Northrop Grumman will post 22.68 earnings per share for the current year.
Insider Buying and Selling
In other Northrop Grumman news, VP Mark A. Caylor sold 1,670 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $437.87, for a total transaction of $731,242.90. Following the sale, the vice president now owns 14,570 shares in the company, valued at approximately $6,379,765.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.
Institutional Trading of Northrop Grumman
Several large investors have recently added to or reduced their stakes in NOC. Osaic Holdings Inc. lifted its holdings in shares of Northrop Grumman by 1,372.7% in the 2nd quarter. Osaic Holdings Inc. now owns 1,277,360 shares of the aerospace company’s stock valued at $37,271,000 after buying an additional 1,190,623 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of Northrop Grumman by 70,532.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 637,105 shares of the aerospace company’s stock valued at $347,611,000 after buying an additional 636,203 shares during the period. Capital World Investors lifted its holdings in shares of Northrop Grumman by 16.6% in the 2nd quarter. Capital World Investors now owns 3,708,452 shares of the aerospace company’s stock valued at $1,690,312,000 after buying an additional 528,377 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Northrop Grumman by 12.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,077,676 shares of the aerospace company’s stock valued at $1,858,605,000 after buying an additional 452,166 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Northrop Grumman by 62.6% in the 1st quarter. Franklin Resources Inc. now owns 1,143,475 shares of the aerospace company’s stock valued at $527,965,000 after buying an additional 440,303 shares during the period. Hedge funds and other institutional investors own 82.40% of the company’s stock.
Northrop Grumman Company Profile
Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems in the United States and internationally. 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.