Northrop Grumman (NYSE:NOC) Upgraded to “Peer Perform” at Wolfe Research

Northrop Grumman (NYSE:NOC) was upgraded by investment analysts at Wolfe Research from an “underperform” rating to a “peer perform” rating in a research report issued on Monday, MarketBeat reports.

NOC has been the topic of several other research reports. JPMorgan Chase & Co. increased their price objective on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Wells Fargo & Company lowered their target price on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Truist Financial began coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They issued a “buy” rating and a $544.00 price target for the company. Finally, StockNews.com raised Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 19th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Northrop Grumman has a consensus rating of “Moderate Buy” and an average target price of $544.31.

Northrop Grumman Stock Performance

NYSE NOC opened at $482.79 on Monday. The stock has a market cap of $69.89 billion, a PE ratio of 17.04, a P/E/G ratio of 0.91 and a beta of 0.35. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The firm has a 50-day moving average of $478.26 and a 200-day moving average of $499.10. Northrop Grumman has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.27 by $0.12. Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. On average, sell-side analysts anticipate that Northrop Grumman will post 28.04 EPS for the current year.

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

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of Northrop Grumman stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total transaction of $616,067.08. Following the sale, the vice president now directly owns 537 shares of the company’s stock, valued at approximately $286,183.41. This trade represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 1,222 shares of company stock worth $647,025 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Institutional Investors Weigh In On Northrop Grumman

Several hedge funds have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC acquired a new position in Northrop Grumman in the 3rd quarter valued at approximately $31,000. Albion Financial Group UT bought a new stake in shares of Northrop Grumman in the fourth quarter worth $33,000. FSA Wealth Management LLC acquired a new stake in Northrop Grumman in the third quarter valued at $36,000. Modus Advisors LLC bought a new position in Northrop Grumman during the 4th quarter worth $38,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Northrop Grumman during the 3rd quarter worth about $40,000. 83.40% of the stock is currently owned by institutional investors and hedge funds.

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.