Northrop Grumman (NYSE:NOC) Price Target Raised to $419.00

Northrop Grumman (NYSE:NOC) had its price target upped by Sanford C. Bernstein from $405.00 to $419.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the aerospace company’s stock.

NOC has been the subject of several other reports. UBS Group reduced their price target on Northrop Grumman from $410.00 to $373.00 and set a neutral rating for the company in a report on Thursday, June 11th. Jefferies Financial Group reiterated a buy rating and set a $375.00 price target on shares of Northrop Grumman in a report on Thursday, June 25th. TheStreet lowered Northrop Grumman from a b- rating to a c rating in a report on Monday, July 13th. Morgan Stanley lifted their price target on Northrop Grumman from $380.00 to $412.00 and gave the company an overweight rating in a report on Tuesday, April 14th. Finally, Cowen upgraded Northrop Grumman from a market perform rating to an outperform rating and lifted their price target for the company from $360.00 to $370.00 in a report on Friday, May 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $385.00.

NYSE:NOC traded down $1.00 on Friday, hitting $325.01. 1,161,532 shares of the company’s stock traded hands, compared to its average volume of 1,004,148. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 1.61. Northrop Grumman has a 1 year low of $263.31 and a 1 year high of $385.01. The firm has a 50-day moving average price of $308.15 and a 200-day moving average price of $332.27. The company has a market cap of $54.18 billion, a PE ratio of 22.86 and a beta of 0.79.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, July 30th. The aerospace company reported $6.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.32 by $0.69. The company had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $8.66 billion. Northrop Grumman had a return on equity of 40.24% and a net margin of 6.91%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.06 EPS. On average, research analysts forecast that Northrop Grumman will post 22.15 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of NOC. Bay Harbor Wealth Management LLC acquired a new position in shares of Northrop Grumman during the first quarter worth approximately $25,000. Campbell Wealth Management acquired a new position in Northrop Grumman in the second quarter valued at about $25,000. Versant Capital Management Inc lifted its stake in Northrop Grumman by 54.4% in 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 period. Ballast Advisors LLC acquired a new position in Northrop Grumman in 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 worth about $50,000. Hedge funds and other institutional investors own 83.97% of the company’s stock.

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.

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Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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