Northrop Grumman (NYSE:NOC) Upgraded by StockNews.com to "Strong-Buy" Rating

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

Other equities analysts also recently issued research reports about the stock. UBS Group lifted their price target 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. Susquehanna lifted their target price on Northrop Grumman from $560.00 to $625.00 and gave the company a "positive" 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 stock a "neutral" rating in a research note on Thursday, October 10th. Royal Bank of Canada lifted their price objective 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. Finally, Morgan Stanley increased their target price on shares of Northrop Grumman from $579.00 to $592.00 and gave the stock an "overweight" rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Northrop Grumman has a consensus rating of "Hold" and an average price target of $550.56.

Northrop Grumman Price Performance

NOC stock traded down $6.24 on Friday, reaching $473.33. The company had a trading volume of 915,666 shares, compared to its average volume of 859,670. The company's fifty day moving average is $513.61 and its 200 day moving average is $487.60. The company has a market cap of $68.96 billion, a P/E ratio of 29.35, a PEG ratio of 0.98 and a beta of 0.33. 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 has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating analysts' consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.18 earnings per share. On average, research analysts forecast that Northrop Grumman will post 25.93 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a yield of 1.74%. Northrop Grumman's dividend payout ratio (DPR) is presently 51.05%.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the business's stock in a transaction dated Monday, November 11th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 1,255 shares of company stock valued at $666,461 in the last three months. Corporate insiders own 0.22% of the company's stock.

Hedge Funds Weigh In On Northrop Grumman

A number of hedge funds have recently bought and sold shares of NOC. Optimum Investment Advisors grew its position in shares of Northrop Grumman by 241.2% in the 2nd quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company's stock worth $25,000 after acquiring an additional 41 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman in the third quarter worth $31,000. FSA Wealth Management LLC bought a new stake in Northrop Grumman during the third quarter valued at $36,000. Meeder Asset Management Inc. raised its holdings in shares of Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company's stock worth $33,000 after purchasing an additional 54 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Northrop Grumman in the 3rd quarter worth about $40,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

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.