Northrop Grumman (NYSE:NOC) Given New $558.00 Price Target at UBS Group

Northrop Grumman (NYSE:NOC) had its price objective lowered by UBS Group from $579.00 to $558.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a buy rating on the aerospace company’s stock.

NOC has been the topic of a number of other reports. Wells Fargo & Company decreased their target price on Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a research note on Friday. Citigroup upgraded shares of Northrop Grumman from a “neutral” rating to a “buy” rating and set a $587.00 price objective on the stock in a research report on Tuesday, January 21st. Truist Financial assumed coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 target price for the company. Susquehanna decreased their price target on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, Barclays cut their target price on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Northrop Grumman presently has a consensus rating of “Moderate Buy” and an average target price of $544.31.

Northrop Grumman Trading Up 0.7 %

Shares of NOC opened at $486.97 on Friday. The business’s 50-day moving average price is $478.20 and its 200-day moving average price is $497.91. 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 twelve month low of $418.60 and a twelve month high of $555.57. The stock has a market cap of $70.95 billion, a PE ratio of 30.17, a P/E/G ratio of 0.91 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. On average, equities analysts forecast that Northrop Grumman will post 25.96 EPS for the current fiscal year.

Northrop Grumman declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were issued a $2.06 dividend. This represents a $8.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, December 2nd. Northrop Grumman’s dividend payout ratio is 29.08%.

Insider Activity at Northrop Grumman

In other 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 transaction of $616,067.08. Following the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,255 shares of company stock worth $663,859 in the last three months. 0.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC purchased a new position in shares of Northrop Grumman during the 3rd quarter worth approximately $31,000. Albion Financial Group UT purchased a new stake in Northrop Grumman in the fourth quarter worth $33,000. FSA Wealth Management LLC bought a new position in Northrop Grumman in the third quarter worth $36,000. Modus Advisors LLC purchased a new position in Northrop Grumman during the fourth quarter valued at $38,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Northrop Grumman during the 3rd quarter valued at $40,000. 83.40% of the stock is owned by hedge funds and other 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.