Northrop Grumman (NYSE:NOC) Given New $515.00 Price Target at TD Cowen

Northrop Grumman (NYSE:NOC) had its price target boosted by TD Cowen from $440.00 to $515.00 in a research report report published on Monday, Benzinga reports. They currently have a hold rating on the aerospace company’s stock.

Other research analysts also recently issued research reports about the stock. Robert W. Baird upped their price objective on shares of Northrop Grumman from $475.00 to $505.00 and gave the stock a neutral rating in a research report on Friday, April 26th. Alembic Global Advisors upgraded shares of Northrop Grumman from a neutral rating to an overweight rating and set a $532.00 price objective for the company in a research report on Monday, April 22nd. UBS Group upped their price objective on shares of Northrop Grumman from $593.00 to $605.00 and gave the stock a buy rating in a research report on Friday, July 26th. Jefferies Financial Group decreased their price objective on shares of Northrop Grumman from $530.00 to $500.00 and set a hold rating for the company in a research report on Tuesday, June 18th. Finally, BTIG Research began coverage on shares of Northrop Grumman in a research note on Wednesday, June 26th. They set a buy rating and a $565.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Northrop Grumman currently has an average rating of Hold and a consensus price target of $516.29.

Northrop Grumman Trading Up 1.9 %

NYSE NOC opened at $493.36 on Monday. The company has a market capitalization of $72.15 billion, a PE ratio of 34.50, a P/E/G ratio of 2.22 and a beta of 0.32. The company has a fifty day moving average of $442.65 and a 200 day moving average of $455.81. Northrop Grumman has a 1 year low of $414.56 and a 1 year high of $496.89. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. The company had revenue of $10.22 billion during the quarter, compared to the consensus estimate of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.34 earnings per share. Research analysts forecast that Northrop Grumman will post 25.18 earnings per share for the current year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Friday, May 24th. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. Northrop Grumman’s dividend payout ratio is currently 57.62%.

Insider Activity at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the sale, the vice president now owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Institutional Trading of Northrop Grumman

Hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of Northrop Grumman in the 4th quarter valued at approximately $25,000. SRS Capital Advisors Inc. lifted its holdings in shares of Northrop Grumman by 960.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 48 shares during the last quarter. Optimum Investment Advisors lifted its holdings in shares of Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 41 shares during the last quarter. Bank & Trust Co acquired a new position in shares of Northrop Grumman in the 2nd quarter worth approximately $28,000. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Northrop Grumman in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

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.