Brokerages Set Northrop Grumman Co. (NYSE:NOC) Price Target at $550.94

Northrop Grumman Co. (NYSE:NOC - Get Free Report) has received a consensus rating of "Moderate Buy" from the sixteen research firms that are covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $550.94.

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a "neutral" rating in a research report on Monday, October 14th. StockNews.com raised shares of Northrop Grumman from a "buy" rating to a "strong-buy" rating in a research note on Sunday, January 19th. Susquehanna reduced their price target on Northrop Grumman from $625.00 to $557.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. TD Cowen raised Northrop Grumman to a "hold" rating in a research report on Tuesday, October 8th. Finally, Barclays dropped their target price on Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th.

Northrop Grumman Stock Performance

NOC traded up $2.16 during trading on Thursday, hitting $483.70. The stock had a trading volume of 1,468,443 shares, compared to its average volume of 874,862. Northrop Grumman has a twelve month low of $418.60 and a twelve month high of $555.57. The firm has a market capitalization of $70.48 billion, a P/E ratio of 29.97, a PEG ratio of 0.95 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 company's 50-day moving average price is $478.66 and its 200 day moving average price is $497.63.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share for the quarter, beating analysts' consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. On average, equities research analysts forecast that Northrop Grumman will post 25.96 EPS for the current fiscal year.

Northrop Grumman announced that its board has initiated a stock buyback plan on Wednesday, December 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's management believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were issued a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Monday, December 2nd. Northrop Grumman's dividend payout ratio is presently 51.05%.

Insider Buying and Selling

In other news, VP Benjamin R. Davies sold 1,156 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares of the company's stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,255 shares of company stock worth $663,859 over the last ninety days. 0.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Northrop Grumman

A number of hedge funds have recently made changes to their positions in NOC. Two Sigma Advisers LP raised its stake in Northrop Grumman by 102.6% during the 3rd quarter. Two Sigma Advisers LP now owns 735,600 shares of the aerospace company's stock valued at $388,448,000 after acquiring an additional 372,500 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Northrop Grumman by 6.2% in the third quarter. Franklin Resources Inc. now owns 2,426,270 shares of the aerospace company's stock worth $1,315,729,000 after purchasing an additional 141,816 shares during the period. Wedge Capital Management L L P NC bought a new position in Northrop Grumman in the 4th quarter valued at about $66,171,000. International Assets Investment Management LLC acquired a new position in Northrop Grumman during the 4th quarter valued at about $622,000. Finally, National Bank of Canada FI raised its position in shares of Northrop Grumman by 154.7% during the 3rd quarter. National Bank of Canada FI now owns 157,601 shares of the aerospace company's stock worth $83,224,000 after buying an additional 95,724 shares in the last quarter. 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.