Northrop Grumman (NYSE:NOC)‘s stock had its “buy” rating reiterated by equities researchers at Citigroup in a report released on Monday, Marketbeat reports. They presently have a $405.00 price target on the aerospace company’s stock. Citigroup’s target price would suggest a potential upside of 17.62% from the stock’s current price.
Several other analysts have also recently weighed in on NOC. ValuEngine upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Argus upgraded Northrop Grumman to a “buy” rating in a report on Wednesday, February 7th. Royal Bank of Canada set a $389.00 price target on Northrop Grumman and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Robert W. Baird restated a “buy” rating and set a $394.00 price target on shares of Northrop Grumman in a report on Friday, January 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $365.00 target price (up from $336.00) on shares of Northrop Grumman in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $358.64.
Shares of Northrop Grumman (NYSE:NOC) opened at $344.33 on Monday. The firm has a market capitalization of $59,940.00, a PE ratio of 26.13, a PEG ratio of 2.51 and a beta of 0.78. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.24 and a current ratio of 2.35. Northrop Grumman has a twelve month low of $233.20 and a twelve month high of $359.43.
In other Northrop Grumman news, VP Denise M. Peppard sold 2,539 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $335.12, for a total value of $850,869.68. Following the transaction, the vice president now directly owns 38,613 shares of the company’s stock, valued at $12,939,988.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Michael A. Hardesty sold 2,941 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $351.06, for a total value of $1,032,467.46. Following the completion of the transaction, the vice president now directly owns 9,202 shares in the company, valued at $3,230,454.12. The disclosure for this sale can be found here. Insiders sold 8,344 shares of company stock worth $2,896,627 over the last quarter. 0.70% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. USS Investment Management Ltd lifted its stake in Northrop Grumman by 7.0% in the third quarter. USS Investment Management Ltd now owns 27,500 shares of the aerospace company’s stock valued at $7,911,000 after buying an additional 1,800 shares during the period. Wright Investors Service Inc. lifted its stake in Northrop Grumman by 12.9% in the fourth quarter. Wright Investors Service Inc. now owns 8,865 shares of the aerospace company’s stock valued at $2,721,000 after buying an additional 1,014 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Northrop Grumman by 6.3% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 41,529 shares of the aerospace company’s stock valued at $11,949,000 after buying an additional 2,473 shares during the period. Artisan Partners Limited Partnership lifted its stake in Northrop Grumman by 45.7% in the third quarter. Artisan Partners Limited Partnership now owns 4,222 shares of the aerospace company’s stock valued at $1,215,000 after buying an additional 1,325 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in Northrop Grumman by 7.2% in the third quarter. Oppenheimer Asset Management Inc. now owns 14,182 shares of the aerospace company’s stock valued at $4,080,000 after buying an additional 954 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.
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About Northrop Grumman
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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