Northrop Grumman (NYSE:NOC) Lowered to Buy Rating by StockNews.com

StockNews.com cut shares of Northrop Grumman (NYSE:NOC - Free Report) from a strong-buy rating to a buy rating in a research report released on Monday morning.

A number of other research firms also recently issued reports on NOC. Truist Financial started coverage on Northrop Grumman in a research note on Tuesday, January 14th. They set a "buy" rating and a $544.00 price target for the company. Citigroup raised Northrop Grumman from a "neutral" rating to a "buy" rating and set a $587.00 target price on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on Northrop Grumman from $500.00 to $560.00 and gave the company a "neutral" rating in a research report on Monday, October 14th. Royal Bank of Canada lifted their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Finally, TD Cowen upgraded shares of Northrop Grumman to a "hold" rating in a research note on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $544.31.

Northrop Grumman Stock Up 0.5 %

NOC stock traded up $2.20 during trading on Monday, reaching $468.75. 819,983 shares of the stock were exchanged, compared to its average volume of 855,830. The firm has a market cap of $67.86 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 0.91 and a beta of 0.35. Northrop Grumman has a twelve month low of $418.60 and a twelve month high of $555.57. The firm's 50 day moving average is $477.33 and its 200 day moving average is $498.99. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Northrop Grumman (NYSE:NOC - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, beating analysts' consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. As a group, research analysts forecast that Northrop Grumman will post 28.04 EPS for the current year.

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

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were paid a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.76%. Northrop Grumman's dividend payout ratio is currently 29.08%.

Insider Activity

In other news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated 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 sale, the vice president now owns 537 shares in the company, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 1,255 shares of company stock worth $662,868. 0.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On Northrop Grumman

Several hedge funds have recently bought and sold shares of the stock. Lockheed Martin Investment Management Co. increased its stake in Northrop Grumman by 19.9% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 16,660 shares of the aerospace company's stock valued at $7,818,000 after acquiring an additional 2,770 shares during the last quarter. Trinity Street Asset Management LLP raised its holdings in shares of Northrop Grumman by 3.8% during the 4th quarter. Trinity Street Asset Management LLP now owns 48,367 shares of the aerospace company's stock valued at $22,698,000 after buying an additional 1,786 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Northrop Grumman in the 3rd quarter worth approximately $604,000. Fisher Asset Management LLC grew its position in Northrop Grumman by 2.6% during the third quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company's stock valued at $112,222,000 after acquiring an additional 5,334 shares during the last quarter. Finally, AIA Group Ltd raised its stake in shares of Northrop Grumman by 20.0% during the third quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company's stock worth $3,938,000 after acquiring an additional 1,242 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

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.