Northrop Grumman (NYSE:NOC) Given New $518.00 Price Target at Wells Fargo & Company

Northrop Grumman (NYSE:NOC) had its price target increased by stock analysts at Wells Fargo & Company from $483.00 to $518.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 6.81% from the stock’s current price.

Several other equities research analysts also recently commented on the company. StockNews.com raised Northrop Grumman from a “hold” rating to a “buy” rating in a report on Friday. Susquehanna boosted their target price on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a report on Friday. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price on the stock in a report on Monday, April 22nd. Royal Bank of Canada boosted their target price on Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, TheStreet downgraded Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $509.38.

Northrop Grumman Stock Down 0.3 %

NOC stock traded down $1.23 during midday trading on Tuesday, hitting $484.99. The stock had a trading volume of 106,213 shares, compared to its average volume of 992,813. The firm has a market cap of $71.77 billion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 1.93 and a beta of 0.35. The business has a 50-day moving average of $463.30 and a two-hundred day moving average of $465.78. Northrop Grumman has a 52-week low of $414.56 and a 52-week 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 1.02.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping the consensus estimate of $5.83 by $0.49. The company had revenue of $10.13 billion for 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%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $5.50 earnings per share. As a group, equities research analysts forecast that Northrop Grumman will post 24.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Northrop Grumman

In other Northrop Grumman news, CAO Michael A. Hardesty sold 210 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total value of $95,482.80. Following the transaction, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Northrop Grumman news, VP Kathryn G. Simpson sold 711 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total value of $322,239.42. Following the completion of the sale, the vice president now owns 2,024 shares in the company, valued at $917,317.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Michael A. Hardesty sold 210 shares of the company’s stock in a transaction dated 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 approximately $1,421,784.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,149 shares of company stock valued at $1,421,147. 0.22% of the stock is owned by company insiders.

Institutional Trading of Northrop Grumman

Institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in Northrop Grumman during the 4th quarter valued at approximately $25,000. SRS Capital Advisors Inc. grew its holdings in Northrop Grumman by 960.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company’s stock valued at $25,000 after buying an additional 48 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Northrop Grumman during the 3rd quarter valued at approximately $29,000. Frazier Financial Advisors LLC purchased a new position in Northrop Grumman during the 4th quarter valued at approximately $29,000. Finally, McIlrath & Eck LLC lifted its stake in shares of Northrop Grumman by 247.6% in the 4th quarter. McIlrath & Eck LLC now owns 73 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.

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.