Northrop Grumman (NYSE:NOC) Price Target Lowered to $557.00 at Susquehanna

Northrop Grumman (NYSE:NOC) had its target price cut by Susquehanna from $625.00 to $557.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the aerospace company’s stock. Susquehanna’s price objective suggests a potential upside of 22.22% from the company’s current price.

A number of other analysts have also recently commented on NOC. JPMorgan Chase & Co. boosted their target price on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Royal Bank of Canada increased their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. UBS Group increased their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a report on Friday, October 25th. Citigroup upped their price target on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, StockNews.com raised Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 3rd. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman has a consensus rating of “Moderate Buy” and an average price target of $551.40.

Northrop Grumman Stock Performance

Northrop Grumman stock traded up $3.34 during midday trading on Wednesday, hitting $455.73. 95,976 shares of the company were exchanged, compared to its average volume of 651,246. Northrop Grumman has a fifty-two week low of $418.60 and a fifty-two week high of $555.57. The firm has a market capitalization of $66.40 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 0.97 and a beta of 0.35. The business has a fifty day simple moving average of $487.49 and a two-hundred day simple moving average of $492.42. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 1.09.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.18 earnings per share. On average, sell-side analysts forecast that Northrop Grumman will post 25.93 earnings per share for the current year.

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

Insider Activity

In related news, VP Benjamin R. Davies sold 1,156 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was 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 in the company, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NOC. RPg Family Wealth Advisory LLC purchased a new stake in shares of Northrop Grumman during the 3rd quarter worth $31,000. Meeder Asset Management Inc. increased its holdings in Northrop Grumman by 245.5% in the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after buying an additional 54 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Northrop Grumman during the 3rd quarter valued at approximately $36,000. Modus Advisors LLC purchased a new stake in shares of Northrop Grumman during the 4th quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Northrop Grumman in the 3rd quarter worth approximately $40,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

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.