Northrop Grumman (NYSE:NOC) PT Raised to $391.00 at Royal Bank of Canada

Northrop Grumman (NYSE:NOC) had its target price hoisted by stock analysts at Royal Bank of Canada from $366.00 to $391.00 in a report released on Friday, The Fly reports. The brokerage presently has a “sector perform” rating on the aerospace company’s stock. Royal Bank of Canada’s target price points to a potential upside of 20.30% from the company’s previous close.

A number of other research firms also recently weighed in on NOC. Seaport Global Securities began coverage on shares of Northrop Grumman in a research note on Tuesday, May 19th. They set a “buy” rating and a $398.00 price target on the stock. Morgan Stanley increased their target price on Northrop Grumman from $380.00 to $412.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 14th. Jefferies Financial Group reissued a “buy” rating and set a $375.00 price target on shares of Northrop Grumman in a research report on Thursday, June 25th. Cowen upgraded Northrop Grumman from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $360.00 to $370.00 in a report on Friday, May 15th. Finally, UBS Group reduced their price objective on Northrop Grumman from $410.00 to $373.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Northrop Grumman presently has a consensus rating of “Hold” and an average price target of $385.00.

Shares of NYSE:NOC opened at $325.01 on Friday. The company has a market cap of $54.18 billion, a P/E ratio of 22.86 and a beta of 0.79. The business has a fifty day simple moving average of $308.15 and a 200-day simple moving average of $332.27. Northrop Grumman has a 52 week low of $263.31 and a 52 week high of $385.01. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 1.61.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Thursday, July 30th. The aerospace company reported $6.01 EPS for the quarter, beating the consensus estimate of $5.32 by $0.69. The company had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $8.66 billion. Northrop Grumman had a return on equity of 40.24% and a net margin of 6.91%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.06 EPS. Sell-side analysts expect that Northrop Grumman will post 22.2 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. acquired a new stake in Northrop Grumman in the first quarter valued at approximately $21,230,000. Clarius Group LLC boosted its stake in shares of Northrop Grumman by 6.7% in the second quarter. Clarius Group LLC now owns 1,320 shares of the aerospace company’s stock valued at $406,000 after purchasing an additional 83 shares during the period. San Francisco Sentry Investment Group CA grew its holdings in Northrop Grumman by 50.7% during the 1st quarter. San Francisco Sentry Investment Group CA now owns 333 shares of the aerospace company’s stock valued at $100,000 after purchasing an additional 112 shares in the last quarter. Ballast Advisors LLC purchased a new stake in Northrop Grumman during the 1st quarter worth $30,000. Finally, Legal & General Group Plc lifted its holdings in Northrop Grumman by 3.0% in the 1st quarter. Legal & General Group Plc now owns 859,320 shares of the aerospace company’s stock worth $260,058,000 after buying an additional 25,139 shares in the last quarter. 83.97% of the stock is currently owned by hedge funds and other institutional investors.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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