Northrop Grumman (NYSE:NOC) Upgraded at Argus

Northrop Grumman (NYSE:NOC) was upgraded by equities research analysts at Argus to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Citigroup lifted their price target on shares of Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research note on Monday, February 3rd. Susquehanna dropped 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. StockNews.com downgraded shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Truist Financial began coverage on shares of Northrop Grumman in a report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $542.75.

Northrop Grumman Stock Up 0.4 %

NOC stock opened at $461.74 on Wednesday. Northrop Grumman has a one year low of $418.60 and a one year high of $555.57. The stock has a market capitalization of $66.84 billion, a P/E ratio of 16.29, a PEG ratio of 3.73 and a beta of 0.35. The company has a 50 day moving average price of $469.44 and a two-hundred day moving average price of $496.22. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01.

Northrop Grumman (NYSE:NOC) last released its earnings results 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 return on equity of 26.24% and a net margin of 10.17%. As a group, sell-side analysts expect that Northrop Grumman will post 28.05 EPS for the current year.

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

Insider Activity

In other Northrop Grumman news, VP Benjamin R. Davies sold 192 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total value of $82,383.36. Following the sale, the vice president now directly owns 709 shares of the company’s stock, valued at $304,217.72. This trade represents a 21.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 291 shares of company stock valued at $129,184. 0.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northrop Grumman

Institutional investors have recently modified their holdings of the company. abrdn plc boosted its position in Northrop Grumman by 27.1% during the 3rd quarter. abrdn plc now owns 12,868 shares of the aerospace company’s stock worth $6,756,000 after acquiring an additional 2,747 shares during the period. Stephens Inc. AR grew its position in Northrop Grumman by 4.9% in the 3rd quarter. Stephens Inc. AR now owns 12,513 shares of the aerospace company’s stock valued at $6,608,000 after buying an additional 583 shares in the last quarter. Gladstone Institutional Advisory LLC increased its stake in Northrop Grumman by 16.9% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 787 shares of the aerospace company’s stock valued at $416,000 after buying an additional 114 shares during the period. Americana Partners LLC raised its position in shares of Northrop Grumman by 27.7% during the 3rd quarter. Americana Partners LLC now owns 1,607 shares of the aerospace company’s stock worth $849,000 after buying an additional 349 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Northrop Grumman by 21.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,663 shares of the aerospace company’s stock worth $878,000 after acquiring an additional 293 shares during the period. Institutional investors own 83.40% of the company’s stock.

Northrop Grumman Company Profile

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.