Northrop Grumman (NYSE:NOC) Given New $574.00 Price Target at Wells Fargo & Company

Northrop Grumman (NYSE:NOC) had its price objective lowered by Wells Fargo & Company from $595.00 to $574.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the aerospace company’s stock.

A number of other analysts have also weighed in on the stock. Citigroup raised shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price target for the company in a report on Tuesday, January 21st. StockNews.com raised Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Royal Bank of Canada upped their price target on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. UBS Group lifted their price objective on Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, 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 report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Northrop Grumman presently has a consensus rating of “Moderate Buy” and a consensus price target of $544.31.

Northrop Grumman Price Performance

Northrop Grumman stock opened at $486.97 on Friday. Northrop Grumman has a 52 week low of $418.60 and a 52 week high of $555.57. The firm has a market cap of $70.95 billion, a P/E ratio of 30.17, a P/E/G ratio of 0.91 and a beta of 0.35. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09. The business’s fifty day moving average is $478.20 and its two-hundred day moving average is $497.91.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Equities research analysts forecast that Northrop Grumman will post 25.96 earnings per share for the current fiscal year.

Northrop Grumman declared that its board has authorized 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 purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is currently 29.08%.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total value 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. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 1,255 shares of company stock valued at $663,859. Company insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Northrop Grumman

Several institutional investors have recently added to or reduced their stakes in the stock. Cornell Pochily Investment Advisors Inc. increased its holdings in Northrop Grumman by 0.9% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 2,141 shares of the aerospace company’s stock worth $1,131,000 after purchasing an additional 20 shares in the last quarter. Asset Dedication LLC grew its holdings in shares of Northrop Grumman by 1.0% during the third quarter. Asset Dedication LLC now owns 2,025 shares of the aerospace company’s stock worth $1,069,000 after buying an additional 20 shares in the last quarter. Foundations Investment Advisors LLC raised its position in Northrop Grumman by 1.4% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,478 shares of the aerospace company’s stock valued at $780,000 after buying an additional 20 shares during the last quarter. PBMares Wealth Management LLC lifted its stake in Northrop Grumman by 0.5% in the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock valued at $2,335,000 after acquiring an additional 20 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV boosted its position in Northrop Grumman by 0.9% during the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,262 shares of the aerospace company’s stock worth $1,194,000 after acquiring an additional 20 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.