Northrop Grumman (NOC) Upgraded to Outperform at Wells Fargo & Co

Wells Fargo & Co upgraded shares of Northrop Grumman (NYSE:NOC) from a market perform rating to an outperform rating in a research note published on Tuesday, MarketBeat reports.

Other analysts have also issued reports about the company. Vertical Research reissued a buy rating and issued a $296.00 price target (up from $280.00) on shares of Northrop Grumman in a research note on Wednesday, September 20th. Royal Bank of Canada raised their price target on Northrop Grumman from $324.00 to $347.00 and gave the stock an outperform rating in a research note on Thursday, October 26th. Deutsche Bank reissued a buy rating and issued a $325.00 price target (up from $285.00) on shares of Northrop Grumman in a research note on Monday, October 2nd. Zacks Investment Research lowered Northrop Grumman from a buy rating to a hold rating in a research note on Thursday, November 9th. Finally, Goldman Sachs Group set a $320.00 price target on Northrop Grumman and gave the stock a buy rating in a research note on Thursday, October 26th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Northrop Grumman has a consensus rating of Buy and an average target price of $302.21.

Shares of Northrop Grumman (NYSE NOC) opened at $316.37 on Tuesday. The company has a market capitalization of $55,070.00, a PE ratio of 23.57, a P/E/G ratio of 2.79 and a beta of 0.69. Northrop Grumman has a 52-week low of $223.88 and a 52-week high of $318.70. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.05 and a current ratio of 1.21.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.76. Northrop Grumman had a return on equity of 39.76% and a net margin of 9.24%. The firm had revenue of $6.53 billion for the quarter, compared to analyst estimates of $6.33 billion. During the same period last year, the company earned $3.35 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. analysts expect that Northrop Grumman will post 13.19 earnings per share for the current year.

In other news, VP Denise M. Peppard sold 5,037 shares of Northrop Grumman stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $295.67, for a total value of $1,489,289.79. Following the transaction, the vice president now directly owns 58,186 shares of the company’s stock, valued at approximately $17,203,854.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Denise M. Peppard sold 2,328 shares of Northrop Grumman stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $300.86, for a total value of $700,402.08. Following the completion of the transaction, the vice president now directly owns 28,553 shares in the company, valued at $8,590,455.58. The disclosure for this sale can be found here. Insiders sold a total of 21,417 shares of company stock worth $6,365,189 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOC. Hanseatic Management Services Inc. lifted its stake in shares of Northrop Grumman by 12.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 423 shares of the aerospace company’s stock valued at $109,000 after purchasing an additional 48 shares in the last quarter. People s United Financial Inc. raised its holdings in shares of Northrop Grumman by 9.2% during the 2nd quarter. People s United Financial Inc. now owns 475 shares of the aerospace company’s stock valued at $122,000 after buying an additional 40 shares during the period. Ropes Wealth Advisors LLC purchased a new stake in shares of Northrop Grumman during the 3rd quarter valued at about $144,000. Quadrant Capital Group LLC raised its holdings in shares of Northrop Grumman by 7.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 636 shares of the aerospace company’s stock valued at $147,000 after buying an additional 46 shares during the period. Finally, WFG Advisors LP raised its holdings in shares of Northrop Grumman by 4.9% during the 2nd quarter. WFG Advisors LP now owns 594 shares of the aerospace company’s stock valued at $152,000 after buying an additional 28 shares during the period. 81.22% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This report was first published by Week Herald and is owned by of Week Herald. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://weekherald.com/2018/01/20/northrop-grumman-noc-upgraded-to-outperform-at-wells-fargo-co.html.

Northrop Grumman Company Profile

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

Analyst Recommendations for Northrop Grumman (NYSE:NOC)

Receive News & Ratings for Northrop Grumman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply