Barclays Has Lowered Expectations for Northrop Grumman (NYSE:NOC) Stock Price

Northrop Grumman (NYSE:NOC) had its price objective cut by Barclays from $550.00 to $500.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Barclays‘s target price suggests a potential upside of 10.50% from the company’s current price.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada boosted their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Citigroup increased their price objective on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. UBS Group lifted their target price on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Finally, TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $549.93.

Northrop Grumman Trading Down 0.6 %

NOC opened at $452.47 on Monday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The company’s 50 day simple moving average is $487.49 and its two-hundred day simple moving average is $492.42. The firm has a market capitalization of $65.92 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 0.97 and a beta of 0.35. Northrop Grumman has a 1-year low of $418.60 and a 1-year high of $555.57.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The company had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. During the same quarter in the previous year, the company posted $6.18 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts expect that Northrop Grumman will post 25.93 EPS for the current fiscal year.

Northrop Grumman declared that its Board of Directors has approved a share buyback program on Wednesday, December 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the aerospace company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the sale, the vice president now directly owns 537 shares in the company, valued at $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have sold 1,255 shares of company stock worth $663,859. 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 business. Larson Financial Group LLC boosted its holdings in shares of Northrop Grumman by 101.9% in the 2nd quarter. Larson Financial Group LLC now owns 208 shares of the aerospace company’s stock valued at $91,000 after buying an additional 105 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Northrop Grumman by 0.5% during the second quarter. TD Asset Management Inc now owns 57,901 shares of the aerospace company’s stock worth $25,242,000 after purchasing an additional 271 shares during the last quarter. Savant Capital LLC increased its position in shares of Northrop Grumman by 6.0% during the second quarter. Savant Capital LLC now owns 4,627 shares of the aerospace company’s stock worth $2,017,000 after purchasing an additional 260 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Northrop Grumman by 800.0% in the second quarter. Los Angeles Capital Management LLC now owns 19,585 shares of the aerospace company’s stock valued at $8,538,000 after buying an additional 17,409 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of Northrop Grumman by 28.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,319 shares of the aerospace company’s stock valued at $575,000 after acquiring an additional 292 shares during the period. 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.