Northrop Grumman (NYSE:NOC) Given New $500.00 Price Target at Barclays

Northrop Grumman (NYSE:NOC) had its price target lowered by equities researchers at Barclays from $550.00 to $500.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the aerospace company’s stock. Barclays‘s price target would indicate a potential upside of 9.34% from the company’s current price.

Several other brokerages have also issued reports on NOC. Susquehanna upped their target price on Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a research report on Friday, October 25th. Citigroup upped their price objective on shares of Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. UBS Group upped their price target on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company lowered their price objective on shares of Northrop Grumman from $565.00 to $505.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Ten research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $549.93.

Northrop Grumman Stock Down 2.3 %

Shares of NYSE:NOC traded down $10.53 during trading on Monday, reaching $457.29. The stock had a trading volume of 469,064 shares, compared to its average volume of 556,896. The company has a current ratio of 1.09, a quick ratio of 0.97 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $66.62 billion, a P/E ratio of 28.33, a PEG ratio of 0.97 and a beta of 0.35. The firm’s 50-day simple moving average is $489.68 and its 200 day simple moving average is $492.13. Northrop Grumman has a one year low of $418.60 and a one year high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, beating the consensus estimate of $6.07 by $0.93. The company had revenue of $10 billion during the quarter, compared to the consensus estimate of $10.18 billion. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. Northrop Grumman’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $6.18 earnings per share. As a group, research analysts expect that Northrop Grumman will post 25.93 EPS for the current fiscal year.

Northrop Grumman declared that its Board of Directors has authorized a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are typically an indication that the company’s management 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 that occurred on Monday, November 11th. The shares were sold at an average price of $532.93, for a total transaction of $616,067.08. Following the completion of the transaction, the vice president now directly owns 537 shares of the company’s stock, valued at $286,183.41. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 1,222 shares of company stock valued at $648,786. 0.22% of the stock is owned by company insiders.

Institutional Trading of Northrop Grumman

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Northrop Grumman in the third quarter worth about $31,000. Meeder Asset Management Inc. increased its stake in shares of Northrop Grumman by 245.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 54 shares in the last quarter. FSA Wealth Management LLC acquired a new position in Northrop Grumman in the 3rd quarter worth about $36,000. Modus Advisors LLC purchased a new position in Northrop Grumman during the fourth quarter worth approximately $38,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Northrop Grumman in the third quarter valued at approximately $40,000. Institutional investors and hedge funds 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.