JPMorgan Chase & Co. Raises Northrop Grumman (NYSE:NOC) Price Target to $560.00

Northrop Grumman (NYSE:NOC) had its target price increased by JPMorgan Chase & Co. from $500.00 to $560.00 in a report published on Monday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the aerospace company’s stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada lifted their target price on Northrop Grumman from $475.00 to $500.00 and gave the company a sector perform rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a hold rating to a buy rating and lifted their target price for the company from $474.00 to $575.00 in a research note on Monday, July 29th. Citigroup lifted their target price on Northrop Grumman from $521.00 to $587.00 and gave the company a neutral rating in a research note on Thursday, October 10th. Jefferies Financial Group lowered their target price on Northrop Grumman from $530.00 to $500.00 and set a hold rating on the stock in a research note on Tuesday, June 18th. Finally, Morgan Stanley lifted their price target on Northrop Grumman from $579.00 to $592.00 and gave the company an overweight rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $535.00.

Northrop Grumman Trading Up 1.1 %

Shares of NOC opened at $534.50 on Monday. The business’s 50-day moving average price is $518.63 and its 200 day moving average price is $477.37. The stock has a market capitalization of $79.10 billion, a P/E ratio of 37.38, a P/E/G ratio of 2.44 and a beta of 0.34. Northrop Grumman has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, topping analysts’ consensus estimates of $5.93 by $0.43. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The firm had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.02 billion. During the same quarter last year, the business posted $5.34 EPS. Northrop Grumman’s revenue was up 6.7% on a year-over-year basis. Analysts expect that Northrop Grumman will post 25.16 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 annualized dividend and a yield of 1.54%. Northrop Grumman’s dividend payout ratio (DPR) is currently 57.62%.

Insider Buying and Selling

In related news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now directly owns 4,634 shares in the company, valued at approximately $2,317,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Thomas H. Jones sold 1,389 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the transaction, the vice president now directly owns 6,755 shares in the company, valued at $3,225,917.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,879 shares of company stock worth $1,410,703. 0.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Creative Planning lifted its holdings in shares of Northrop Grumman by 7.6% during the third quarter. Creative Planning now owns 42,571 shares of the aerospace company’s stock worth $22,481,000 after buying an additional 3,017 shares during the last quarter. Grove Bank & Trust increased its position in shares of Northrop Grumman by 24.2% during the third quarter. Grove Bank & Trust now owns 185 shares of the aerospace company’s stock valued at $98,000 after purchasing an additional 36 shares during the period. Oxler Private Wealth LLC increased its position in shares of Northrop Grumman by 0.4% during the third quarter. Oxler Private Wealth LLC now owns 7,089 shares of the aerospace company’s stock valued at $3,743,000 after purchasing an additional 26 shares during the period. Stablepoint Partners LLC increased its position in shares of Northrop Grumman by 1.5% during the third quarter. Stablepoint Partners LLC now owns 2,190 shares of the aerospace company’s stock valued at $1,156,000 after purchasing an additional 33 shares during the period. Finally, Procyon Advisors LLC increased its position in shares of Northrop Grumman by 4.0% during the third quarter. Procyon Advisors LLC now owns 4,125 shares of the aerospace company’s stock valued at $2,178,000 after purchasing an additional 159 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

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.