Northrop Grumman (NYSE:NOC) Given New $500.00 Price Target at Barclays

Northrop Grumman (NYSE:NOC - Free Report) had its target price trimmed by Barclays from $550.00 to $500.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the aerospace company's stock.

Several other equities research analysts have also issued reports on NOC. StockNews.com raised shares of Northrop Grumman from a "buy" rating to a "strong-buy" rating in a research note on Friday. Susquehanna upped their price target on Northrop Grumman from $560.00 to $625.00 and gave the stock a "positive" rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on Northrop Grumman from $500.00 to $560.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. UBS Group upped their target price 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, Royal Bank of Canada lifted their price target 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. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $549.93.

Northrop Grumman Stock Down 2.8 %

Shares of Northrop Grumman stock traded down $13.12 on Monday, hitting $454.70. 873,261 shares of the company traded hands, compared to its average volume of 698,684. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. Northrop Grumman has a 12-month low of $418.60 and a 12-month high of $555.57. The company has a 50-day moving average price of $488.53 and a 200 day moving average price of $492.28. The company has a market cap of $66.25 billion, a PE ratio of 28.17, a PEG ratio of 0.97 and a beta of 0.35.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings results 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. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same period last year, the business earned $6.18 EPS. The business's quarterly revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that Northrop Grumman will post 25.93 earnings per share for the current year.

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

Northrop Grumman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a $2.06 dividend. The ex-dividend date was Monday, December 2nd. This represents a $8.24 annualized dividend and a yield of 1.81%. Northrop Grumman's dividend payout ratio (DPR) is currently 51.05%.

Insider Activity

In other news, VP Benjamin R. Davies sold 1,156 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 1,222 shares of company stock worth $648,786. 0.22% of the stock is currently owned by corporate insiders.

Institutional Trading of Northrop Grumman

A number of large investors have recently bought and sold shares of NOC. Y Intercept Hong Kong Ltd bought a new stake in shares of Northrop Grumman in the 3rd quarter worth about $604,000. Fisher Asset Management LLC boosted its position in Northrop Grumman by 2.6% in the third quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company's stock valued at $112,222,000 after buying an additional 5,334 shares in the last quarter. AIA Group Ltd grew its stake in 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 buying an additional 1,242 shares during the last quarter. Aviso Wealth Management increased its holdings in shares of Northrop Grumman by 110.7% during the second quarter. Aviso Wealth Management now owns 1,896 shares of the aerospace company's stock worth $827,000 after buying an additional 996 shares in the last quarter. Finally, Susquehanna International Securities Ltd. bought a new position in shares of Northrop Grumman in the second quarter valued at approximately $1,133,000. 83.40% of the stock is currently 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.