Northrop Grumman (NYSE:NOC) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Northrop Grumman (NYSE:NOC) from a sector perform rating to an outperform rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. Royal Bank of Canada currently has $575.00 target price on the aerospace company’s stock, up from their previous target price of $500.00.

Several other analysts have also issued reports on the stock. Wells Fargo & Company raised their price target on shares of Northrop Grumman from $545.00 to $547.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Citigroup lifted their target price on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Truist Financial started coverage on Northrop Grumman in a report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. Wolfe Research upgraded Northrop Grumman from an “underperform” rating to a “peer perform” rating in a research report on Monday, February 3rd. Finally, StockNews.com cut Northrop Grumman from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $545.06.

Northrop Grumman Trading Down 0.4 %

Shares of NYSE:NOC opened at $511.86 on Thursday. 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 stock’s 50-day moving average is $478.20 and its 200-day moving average is $492.84. The company has a market cap of $74.09 billion, a P/E ratio of 18.06, a P/E/G ratio of 3.73 and a beta of 0.31. Northrop Grumman has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a return on equity of 26.24% and a net margin of 10.17%. Equities research analysts predict that Northrop Grumman will post 28.05 earnings per share for the current year.

Northrop Grumman announced that its board has authorized a stock repurchase plan on Wednesday, December 11th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Monday, March 3rd were given a $2.06 dividend. The ex-dividend date was Monday, March 3rd. This represents a $8.24 annualized dividend and a yield of 1.61%. Northrop Grumman’s payout ratio is 29.08%.

Insider Transactions at Northrop Grumman

In other news, VP Benjamin R. Davies sold 192 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $429.08, for a total transaction of $82,383.36. Following the transaction, the vice president now owns 709 shares of the company’s stock, valued at $304,217.72. This represents a 21.31 % decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $475.65, for a total value of $1,783,687.50. Following the completion of the transaction, the chief executive officer now owns 212,852 shares in the company, valued at approximately $101,243,053.80. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,505 shares of company stock worth $2,126,405. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Northrop Grumman

A number of institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC boosted its position in shares of Northrop Grumman by 121.2% in the 3rd quarter. Larson Financial Group LLC now owns 460 shares of the aerospace company’s stock worth $243,000 after purchasing an additional 252 shares during the last quarter. Avestar Capital LLC lifted its stake in Northrop Grumman by 13.0% in the third quarter. Avestar Capital LLC now owns 618 shares of the aerospace company’s stock valued at $326,000 after buying an additional 71 shares during the period. Townsquare Capital LLC boosted its holdings in Northrop Grumman by 75.6% during the third quarter. Townsquare Capital LLC now owns 5,390 shares of the aerospace company’s stock worth $2,847,000 after buying an additional 2,320 shares during the last quarter. Glenmede Trust Co. NA grew its position in shares of Northrop Grumman by 7.8% during the 3rd quarter. Glenmede Trust Co. NA now owns 17,386 shares of the aerospace company’s stock worth $9,181,000 after buying an additional 1,253 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Northrop Grumman in the 3rd quarter valued at about $1,056,000. 83.40% of the stock is owned by 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.