Northrop Grumman (NYSE:NOC) Upgraded at StockNews.com

Northrop Grumman (NYSE:NOC - Get Free Report) was upgraded by stock analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued on Sunday.

A number of other brokerages have also recently weighed in on NOC. JPMorgan Chase & Co. lifted their price objective on shares of Northrop Grumman from $500.00 to $560.00 and gave the company a "neutral" rating in a research note on Monday, October 14th. Susquehanna reduced their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a "positive" rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company upgraded shares of Northrop Grumman from an "equal weight" rating to an "overweight" rating and set a $595.00 price objective for the company in a report on Wednesday, January 8th. TD Cowen raised Northrop Grumman to a "hold" rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada increased 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. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $550.94.

Northrop Grumman Stock Performance

NYSE NOC traded up $1.30 on Friday, hitting $482.49. The stock had a trading volume of 1,091,510 shares, compared to its average volume of 573,523. The company's 50-day moving average is $480.55 and its two-hundred day moving average is $494.10. Northrop Grumman has a one year low of $418.60 and a one year high of $555.57. The stock has a market cap of $70.30 billion, a price-to-earnings ratio of 29.89, a P/E/G ratio of 0.87 and a beta of 0.35. 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 (NYSE:NOC - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The business had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. During the same period in the previous year, the firm posted $6.18 earnings per share. The business's revenue was up 2.3% on a year-over-year basis. On average, analysts expect that Northrop Grumman will post 25.93 earnings per share for the current year.

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

Insider Buying and Selling

In related news, VP Benjamin R. Davies sold 1,156 shares of the business'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 value of $616,067.08. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 1,255 shares of company stock valued at $663,859. Company insiders own 0.22% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. RPg Family Wealth Advisory LLC bought a new stake in Northrop Grumman during the third quarter worth approximately $31,000. FSA Wealth Management LLC bought a new stake in shares of Northrop Grumman during the 3rd quarter worth $36,000. Albion Financial Group UT acquired a new position in Northrop Grumman in the 4th quarter valued at $33,000. Catalyst Capital Advisors LLC bought a new position in Northrop Grumman in the 3rd quarter worth $40,000. Finally, Modus Advisors LLC acquired a new position in Northrop Grumman during the 4th quarter worth $38,000. Institutional investors and hedge funds own 83.40% of the company's stock.

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.