Northrop Grumman (NYSE:NOC) Price Target Raised to $505.00 at Robert W. Baird

Northrop Grumman (NYSE:NOC) had its price objective hoisted by Robert W. Baird from $475.00 to $505.00 in a research note released on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the aerospace company’s stock.

Other equities analysts have also recently issued reports about the company. Susquehanna reduced their price objective on Northrop Grumman from $560.00 to $540.00 and set a positive rating for the company in a report on Friday, January 26th. StockNews.com cut Northrop Grumman from a buy rating to a hold rating in a report on Monday, January 29th. Alembic Global Advisors raised Northrop Grumman from a neutral rating to an overweight rating and set a $532.00 price objective for the company in a report on Monday, April 22nd. Royal Bank of Canada reissued a sector perform rating and set a $450.00 price target (down previously from $515.00) on shares of Northrop Grumman in a research report on Friday, January 26th. Finally, TheStreet downgraded Northrop Grumman from a b+ rating to a c+ rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Northrop Grumman presently has an average rating of Hold and a consensus price target of $503.00.

Northrop Grumman Stock Down 1.6 %

NOC opened at $480.45 on Friday. The business has a 50 day simple moving average of $462.59 and a 200-day simple moving average of $465.77. The stock has a market capitalization of $71.20 billion, a P/E ratio of 33.60, a P/E/G ratio of 1.96 and a beta of 0.35. Northrop Grumman has a 12 month low of $414.56 and a 12 month high of $496.89. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.05.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.83 by $0.49. The firm had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. Northrop Grumman’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $5.50 earnings per share. On average, equities analysts anticipate that Northrop Grumman will post 24.67 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, February 26th were given a $1.87 dividend. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, February 23rd. Northrop Grumman’s dividend payout ratio is currently 52.31%.

Insider Activity

In other news, CAO Michael A. Hardesty sold 210 shares of Northrop Grumman stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total value of $95,482.80. Following the completion of the sale, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Northrop Grumman news, CAO Michael A. Hardesty sold 955 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $430,103.35. Following the completion of the sale, the chief accounting officer now owns 4,137 shares of the company’s stock, valued at $1,863,180.69. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Michael A. Hardesty sold 210 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the sale, the chief accounting officer now directly owns 3,127 shares of the company’s stock, valued at approximately $1,421,784.36. The disclosure for this sale can be found here. Insiders sold a total of 3,149 shares of company stock valued at $1,421,147 over the last quarter. Company insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Northrop Grumman

Institutional investors have recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its position in Northrop Grumman by 960.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 48 shares during the period. Headlands Technologies LLC purchased a new stake in Northrop Grumman during the fourth quarter valued at about $25,000. Frazier Financial Advisors LLC purchased a new stake in Northrop Grumman during the fourth quarter valued at about $29,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Northrop Grumman during the third quarter valued at about $29,000. Finally, McIlrath & Eck LLC grew its position in Northrop Grumman by 247.6% during the fourth quarter. McIlrath & Eck LLC now owns 73 shares of the aerospace company’s stock valued at $34,000 after acquiring an additional 52 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

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.