Northrop Grumman (NYSE:NOC) Price Target Increased to $391.00 by Analysts at Royal Bank of Canada

Northrop Grumman (NYSE:NOC) had its target price boosted by Royal Bank of Canada from $366.00 to $391.00 in a research report sent to investors on Friday morning, The Fly reports. The firm currently has a sector perform rating on the aerospace company’s stock.

A number of other equities research analysts also recently issued reports on NOC. Seaport Global Securities began coverage on Northrop Grumman in a research report on Tuesday, May 19th. They issued a buy rating and a $398.00 price objective on the stock. Sanford C. Bernstein increased their price objective on Northrop Grumman from $405.00 to $419.00 and gave the stock an outperform rating in a research report on Friday. Cowen raised Northrop Grumman from a market perform rating to an outperform rating and increased their target price for the company from $360.00 to $370.00 in a research note on Friday, May 15th. UBS Group reduced their target price on Northrop Grumman from $410.00 to $373.00 and set a neutral rating on the stock in a research note on Thursday, June 11th. Finally, Morgan Stanley increased their target price on Northrop Grumman from $380.00 to $412.00 and gave the company an overweight rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $385.00.

Shares of NOC stock traded down $1.00 on Friday, reaching $325.01. The company’s stock had a trading volume of 1,161,532 shares, compared to its average volume of 1,004,148. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 1.61. Northrop Grumman has a 12-month low of $263.31 and a 12-month high of $385.01. The company has a market capitalization of $54.18 billion, a P/E ratio of 22.86 and a beta of 0.79. The stock’s 50 day simple moving average is $308.15 and its 200-day simple moving average is $332.27.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, July 30th. The aerospace company reported $6.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.32 by $0.69. Northrop Grumman had a return on equity of 40.24% and a net margin of 6.91%. The company had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $8.66 billion. During the same quarter last year, the business posted $5.06 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Research analysts expect that Northrop Grumman will post 22.15 EPS for the current year.

Several large investors have recently made changes to their positions in NOC. Bay Harbor Wealth Management LLC bought a new position in shares of Northrop Grumman during the first quarter valued at about $25,000. Campbell Wealth Management bought a new position in shares of Northrop Grumman during the second quarter valued at about $25,000. Versant Capital Management Inc grew its stake in shares of Northrop Grumman by 54.4% during the first quarter. Versant Capital Management Inc now owns 88 shares of the aerospace company’s stock valued at $26,000 after buying an additional 31 shares during the last quarter. Ballast Advisors LLC bought a new position in shares of Northrop Grumman during the first quarter valued at about $30,000. Finally, Harwood Advisory Group LLC bought a new position in shares of Northrop Grumman during the first quarter valued at about $50,000. 83.97% of the stock is currently owned by hedge funds and other institutional investors.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

Further Reading: What is a closed-end mutual fund (CEF)?

The Fly

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.