Brokerages Set Northrop Grumman Co. (NYSE:NOC) PT at $544.56

Northrop Grumman Co. (NYSE:NOC) has been given an average recommendation of “Hold” by the seventeen research firms that are presently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $542.75.

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price objective on Northrop Grumman from $574.00 to $545.00 and set an “overweight” rating for the company in a research report on Wednesday. Susquehanna dropped their target price on 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 upped their price target on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, Truist Financial initiated coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective on the stock.

Northrop Grumman Trading Up 0.4 %

NYSE NOC opened at $461.74 on Monday. Northrop Grumman has a one year low of $418.60 and a one year high of $555.57. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. The firm has a market cap of $66.84 billion, a P/E ratio of 16.29, a P/E/G ratio of 3.73 and a beta of 0.35. The stock’s 50-day moving average is $469.44 and its 200-day moving average is $496.22.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Northrop Grumman will post 28.05 earnings per share for the current fiscal year.

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

Northrop Grumman Dividend Announcement

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

Insider Activity

In related news, VP Benjamin R. Davies sold 192 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the transaction, the vice president now directly owns 709 shares of the company’s stock, valued at approximately $304,217.72. The trade was a 21.31 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 291 shares of company stock valued at $129,184 over the last three months. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On Northrop Grumman

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