Northrop Grumman (NYSE:NOC) Upgraded to “Peer Perform” at Wolfe Research

Wolfe Research upgraded shares of Northrop Grumman (NYSE:NOC) from an underperform rating to a peer perform rating in a research note released on Monday, Marketbeat reports.

A number of other equities research analysts have also issued reports on NOC. JPMorgan Chase & Co. boosted their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. 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 note on Monday, January 6th. TD Cowen raised Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. UBS Group dropped their price target on Northrop Grumman from $579.00 to $558.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Wells Fargo & Company decreased their price objective on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Northrop Grumman presently has a consensus rating of “Moderate Buy” and a consensus price target of $544.31.

Northrop Grumman Stock Performance

NOC opened at $471.17 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. The firm has a market cap of $68.20 billion, a PE ratio of 16.63, a P/E/G ratio of 0.91 and a beta of 0.35. The business has a fifty day simple moving average of $478.14 and a 200-day simple moving average of $499.42. Northrop Grumman has a fifty-two week low of $418.60 and a fifty-two week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share 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%. As a group, equities analysts predict that Northrop Grumman will post 28.04 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

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

Northrop Grumman declared that its board has approved a stock buyback program on Wednesday, December 11th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the transaction, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 1,222 shares of company stock valued at $647,025 over the last three months. 0.22% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Northrop Grumman

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOC. Lockheed Martin Investment Management Co. raised its position in shares of Northrop Grumman by 19.9% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 16,660 shares of the aerospace company’s stock valued at $7,818,000 after purchasing an additional 2,770 shares during the period. Trinity Street Asset Management LLP grew its stake in Northrop Grumman by 3.8% in the 4th quarter. Trinity Street Asset Management LLP now owns 48,367 shares of the aerospace company’s stock valued at $22,698,000 after buying an additional 1,786 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Northrop Grumman in the 3rd quarter worth $604,000. Fisher Asset Management LLC lifted its position in Northrop Grumman by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock worth $112,222,000 after acquiring an additional 5,334 shares during the last quarter. Finally, AIA Group Ltd boosted its holdings in Northrop Grumman by 20.0% during the third quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock valued at $3,938,000 after acquiring an additional 1,242 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

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.