Northrop Grumman (NYSE:NOC) Given New $547.00 Price Target at Wells Fargo & Company

Northrop Grumman (NYSE:NOC) had its target price lifted by Wells Fargo & Company from $545.00 to $547.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the aerospace company’s stock.

Several other equities research analysts have also issued reports on the stock. Argus raised shares of Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Truist Financial started coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price objective for the company. Citigroup increased their price objective on shares of Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. StockNews.com lowered shares of Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Susquehanna dropped their price objective on shares of Northrop Grumman from $625.00 to $557.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $542.88.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $487.22 on Friday. Northrop Grumman has a one year low of $418.60 and a one year high of $555.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The company has a 50 day moving average price of $469.88 and a 200 day moving average price of $495.20. The firm has a market capitalization of $70.53 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 3.73 and a beta of 0.31.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. Sell-side analysts anticipate that Northrop Grumman will post 28.05 EPS for the current year.

Northrop Grumman declared that its board has approved a share buyback plan on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd will be paid a dividend of $2.06 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.69%. Northrop Grumman’s dividend payout ratio (DPR) is 29.08%.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $460.75, for a total transaction of $213,788.00. Following the transaction, the vice president now directly owns 245 shares in the company, valued at $112,883.75. This represents a 65.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kathy J. Warden sold 3,750 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the transaction, the chief executive officer now owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,505 shares of company stock worth $2,126,405 in the last ninety days. 0.22% of the stock is owned by insiders.

Institutional Trading of Northrop Grumman

Institutional investors and hedge funds have recently modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new stake in shares of Northrop Grumman during the third quarter worth $31,000. Whipplewood Advisors LLC acquired a new stake in shares of Northrop Grumman during the fourth quarter worth $31,000. FSA Wealth Management LLC acquired a new stake in shares of Northrop Grumman during the third quarter worth $36,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Northrop Grumman during the fourth quarter worth $32,000. Finally, Albion Financial Group UT acquired a new stake in shares of Northrop Grumman in the 4th quarter worth about $33,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Company Profile

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.