Northrop Grumman (NYSE:NOC) Given New $540.00 Price Target at Royal Bank of Canada

by · The Cerbat Gem

Northrop Grumman (NYSE:NOC – Get Free Report) had its target price raised by stock analysts at Royal Bank of Canada from $500.00 to $540.00 in a report issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the aerospace company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 3.77% from the stock’s current price.

A number of other research firms also recently issued reports on NOC. TD Cowen raised shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and upped their target price for the stock from $474.00 to $575.00 in a research report on Monday, July 29th. Citigroup boosted their price target on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley upped their target price on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $545.06.

Check Out Our Latest Research Report on Northrop Grumman

Northrop Grumman Price Performance

NOC traded down $3.31 during midday trading on Friday, reaching $520.37. 152,041 shares of the company’s stock were exchanged, compared to its average volume of 871,856. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 0.99. The business’s 50-day moving average price is $522.88 and its 200 day moving average price is $480.30. The stock has a market capitalization of $76.10 billion, a PE ratio of 33.97, a P/E/G ratio of 2.38 and a beta of 0.34. Northrop Grumman has a 1-year low of $418.60 and a 1-year high of $555.57.

Northrop Grumman (NYSE:NOC – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.18 earnings per share. As a group, equities analysts anticipate that Northrop Grumman will post 25.16 EPS for the current fiscal year.

Insider Activity

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were 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 owns 4,634 shares in the company, valued at $2,317,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 1,490 shares of company stock worth $747,372 in the last 90 days. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. PBMares Wealth Management LLC increased its stake in shares of Northrop Grumman by 0.5% during the 3rd quarter. PBMares Wealth Management LLC now owns 4,421 shares of the aerospace company’s stock worth $2,335,000 after purchasing an additional 20 shares during the last quarter. Traynor Capital Management Inc. boosted its stake in Northrop Grumman by 4.6% during the 3rd quarter. Traynor Capital Management Inc. now owns 23,177 shares of the aerospace company’s stock valued at $12,239,000 after purchasing an additional 1,011 shares during the period. abrdn plc grew its stake in shares of Northrop Grumman by 27.1% in the third quarter. abrdn plc now owns 12,868 shares of the aerospace company’s stock worth $6,756,000 after acquiring an additional 2,747 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in Northrop Grumman during the 3rd quarter valued at $522,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Northrop Grumman by 4.4% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,059 shares of the aerospace company’s stock valued at $1,615,000 after purchasing an additional 129 shares during the period. 83.40% of the stock is owned by institutional investors and hedge funds.

Northrop Grumman Company Profile

(Get Free Report)

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.

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