Northrop Grumman (NYSE:NOC) Rating Increased to Strong-Buy at Argus

Argus upgraded shares of Northrop Grumman (NYSE:NOC) to a strong-buy rating in a research note published on Wednesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the stock. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a report on Monday, February 3rd. Susquehanna decreased their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Citigroup boosted their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Wells Fargo & Company decreased their target price on Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Barclays cut their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $542.75.

Northrop Grumman Trading Up 0.4 %

NYSE:NOC opened at $461.74 on Wednesday. The company has a 50 day simple moving average of $469.44 and a two-hundred day simple moving average of $496.22. The company has a market cap of $66.84 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 3.73 and a beta of 0.35. 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 has a 12 month low of $418.60 and a 12 month high of $555.57.

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

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be paid a $2.06 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.78%. Northrop Grumman’s payout ratio is 29.08%.

Northrop Grumman declared that its Board of Directors has authorized a share buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $429.08, for a total value of $82,383.36. Following the sale, the vice president now owns 709 shares in the company, valued at $304,217.72. The trade was a 21.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 291 shares of company stock valued at $129,184. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Northrop Grumman

Large investors have recently made changes to their positions in the company. Capital International Investors increased its stake in Northrop Grumman by 5.9% in the 4th quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company’s stock worth $3,866,133,000 after acquiring an additional 461,307 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Northrop Grumman by 28.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company’s stock worth $952,962,000 after purchasing an additional 450,858 shares during the last quarter. Two Sigma Advisers LP raised its stake in Northrop Grumman by 102.6% during the third quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company’s stock valued at $388,448,000 after purchasing an additional 372,500 shares in the last quarter. First Trust Advisors LP lifted its position in Northrop Grumman by 337.1% during the fourth quarter. First Trust Advisors LP now owns 482,112 shares of the aerospace company’s stock valued at $226,250,000 after purchasing an additional 371,814 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Northrop Grumman in the 4th quarter worth $171,580,000. 83.40% of the stock is owned by 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.