Northrop Grumman (NYSE:NOC) Given New $557.00 Price Target at Susquehanna

Northrop Grumman (NYSE:NOC - Free Report) had its price target reduced by Susquehanna from $625.00 to $557.00 in a report published on Wednesday,Benzinga reports. They currently have a positive rating on the aerospace company's stock.

Other analysts also recently issued reports about the stock. Barclays reduced their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an "equal weight" rating on the stock in a report on Monday. UBS Group boosted their price objective on Northrop Grumman from $614.00 to $643.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Wells Fargo & Company raised Northrop Grumman from an "equal weight" rating to an "overweight" rating and set a $595.00 price objective for the company in a research note on Wednesday. TD Cowen raised Northrop Grumman to a "hold" rating in a research report on Tuesday, October 8th. Finally, StockNews.com upgraded Northrop Grumman from a "buy" rating to a "strong-buy" rating in a research report on Friday, January 3rd. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $551.40.

Northrop Grumman Price Performance

Shares of Northrop Grumman stock traded up $10.29 during trading on Wednesday, reaching $462.68. 746,583 shares of the stock traded hands, compared to its average volume of 788,557. Northrop Grumman has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The business has a fifty day simple moving average of $487.49 and a two-hundred day simple moving average of $492.42. The company has a market capitalization of $67.41 billion, a price-to-earnings ratio of 28.67, a P/E/G ratio of 0.97 and a beta of 0.35.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.18 EPS. Sell-side analysts expect that Northrop Grumman will post 25.93 EPS for the current year.

Northrop Grumman announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman's dividend payout ratio (DPR) is presently 51.05%.

Insider Activity

In other Northrop Grumman 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 transaction, the vice president now directly owns 537 shares in the company, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 1,255 shares of company stock worth $663,859. Corporate insiders own 0.22% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Strategic Financial Concepts LLC purchased a new stake in shares of Northrop Grumman during the 2nd quarter valued at $47,000. Caprock Group LLC increased its position in shares of Northrop Grumman by 65.9% in the 2nd quarter. Caprock Group LLC now owns 2,561 shares of the aerospace company's stock valued at $1,117,000 after acquiring an additional 1,017 shares during the period. Oak Thistle LLC purchased a new position in Northrop Grumman in the 2nd quarter worth $216,000. Ashton Thomas Private Wealth LLC acquired a new stake in Northrop Grumman during the 2nd quarter worth about $61,000. Finally, Prudential PLC increased its holdings in shares of Northrop Grumman by 178.8% during the 2nd quarter. Prudential PLC now owns 7,921 shares of the aerospace company's stock valued at $3,453,000 after purchasing an additional 5,080 shares in the last quarter. Institutional investors 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.