Wells Fargo & Company Lowers Northrop Grumman (NYSE:NOC) Price Target to $460.00

Northrop Grumman (NYSE:NOCGet Rating) had its price target reduced by analysts at Wells Fargo & Company from $575.00 to $460.00 in a research report issued on Wednesday, The Fly reports. The firm presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 4.00% from the stock’s previous close.

Several other research firms have also issued reports on NOC. Wolfe Research assumed coverage on Northrop Grumman in a research report on Monday, October 10th. They set an “outperform” rating and a $565.00 price target on the stock. Royal Bank of Canada upped their price target on Northrop Grumman from $550.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, October 28th. Morgan Stanley upped their price target on Northrop Grumman from $585.00 to $626.00 and gave the company an “overweight” rating in a research report on Thursday, December 15th. Robert W. Baird upped their price target on Northrop Grumman from $529.00 to $570.00 in a research report on Friday, October 28th. Finally, Credit Suisse Group dropped their price target on Northrop Grumman from $575.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, January 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman presently has an average rating of “Moderate Buy” and an average price target of $525.33.

Northrop Grumman Stock Performance

Shares of NOC opened at $442.31 on Wednesday. The business’s 50 day moving average is $518.26 and its two-hundred day moving average is $498.56. Northrop Grumman has a 52-week low of $364.62 and a 52-week high of $556.27. The firm has a market cap of $68.08 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 9.04 and a beta of 0.60. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 0.85.

Northrop Grumman (NYSE:NOCGet Rating) last announced its earnings results on Thursday, October 27th. The aerospace company reported $5.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.09 by ($0.20). Northrop Grumman had a net margin of 15.69% and a return on equity of 27.99%. The business had revenue of $8.97 billion during the quarter, compared to analyst estimates of $9.15 billion. Analysts forecast that Northrop Grumman will post 24.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Quent Capital LLC grew its stake in shares of Northrop Grumman by 10.2% in the fourth quarter. Quent Capital LLC now owns 499 shares of the aerospace company’s stock worth $272,000 after purchasing an additional 46 shares in the last quarter. Investment Advisory Group LLC bought a new position in shares of Northrop Grumman in the fourth quarter worth $202,000. Crossmark Global Holdings Inc. grew its stake in shares of Northrop Grumman by 20.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 2,392 shares of the aerospace company’s stock worth $1,305,000 after purchasing an additional 400 shares in the last quarter. Catalyst Financial Partners LLC bought a new position in shares of Northrop Grumman in the fourth quarter worth $247,000. Finally, Appleton Partners Inc. MA grew its stake in shares of Northrop Grumman by 13.6% in the fourth quarter. Appleton Partners Inc. MA now owns 9,453 shares of the aerospace company’s stock worth $5,158,000 after purchasing an additional 1,133 shares in the last quarter. Institutional investors own 84.32% of the company’s stock.

Northrop Grumman Company Profile

(Get Rating)

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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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