Northrop Grumman (NYSE:NOC) Upgraded to “Overweight” by Alembic Global Advisors

Alembic Global Advisors upgraded shares of Northrop Grumman (NYSE:NOC) from a neutral rating to an overweight rating in a report issued on Monday, Marketbeat Ratings reports. They currently have $532.00 target price on the aerospace company’s stock.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada reissued a sector perform rating and issued a $450.00 target price (down previously from $515.00) on shares of Northrop Grumman in a research report on Friday, January 26th. Susquehanna decreased their target price on Northrop Grumman from $560.00 to $540.00 and set a positive rating for the company in a research report on Friday, January 26th. StockNews.com lowered shares of Northrop Grumman from a buy rating to a hold rating in a research report on Monday, January 29th. Robert W. Baird reduced their price target on shares of Northrop Grumman from $505.00 to $475.00 and set a neutral rating for the company in a research report on Friday, January 26th. Finally, TheStreet lowered shares of Northrop Grumman from a b+ rating to a c+ rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $497.23.

Northrop Grumman Price Performance

NOC opened at $470.98 on Monday. Northrop Grumman has a 1 year low of $414.56 and a 1 year high of $496.89. The stock has a 50-day moving average price of $460.10 and a 200-day moving average price of $465.12. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.15 and a quick ratio of 1.05. The firm has a market cap of $69.80 billion, a PE ratio of 34.94, a P/E/G ratio of 1.86 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, January 25th. The aerospace company reported $6.27 earnings per share for the quarter, topping analysts’ consensus estimates of $5.80 by $0.47. Northrop Grumman had a return on equity of 23.07% and a net margin of 5.23%. The business had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.43 billion. During the same quarter in the previous year, the firm earned $7.50 EPS. Northrop Grumman’s revenue was up 6.0% on a year-over-year basis. Sell-side analysts predict that Northrop Grumman will post 24.67 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were paid a dividend of $1.87 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.59%. Northrop Grumman’s dividend payout ratio (DPR) is presently 55.49%.

Insider Activity at Northrop Grumman

In related news, CAO Michael A. Hardesty sold 955 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $430,103.35. Following the completion of the transaction, the chief accounting officer now directly owns 4,137 shares in the company, valued at approximately $1,863,180.69. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Northrop Grumman news, CAO Michael A. Hardesty sold 955 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the transaction, the chief accounting officer now directly owns 4,137 shares in the company, valued at approximately $1,863,180.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Michael A. Hardesty sold 210 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total value of $95,482.80. Following the completion of the transaction, the chief accounting officer now owns 3,127 shares of the company’s stock, valued at $1,421,784.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,149 shares of company stock worth $1,421,147. 0.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its stake in Northrop Grumman by 3.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 38,929 shares of the aerospace company’s stock worth $18,634,000 after purchasing an additional 1,252 shares during the period. Stonegate Investment Group LLC raised its holdings in shares of Northrop Grumman by 18.5% during the 1st quarter. Stonegate Investment Group LLC now owns 9,038 shares of the aerospace company’s stock worth $4,326,000 after acquiring an additional 1,410 shares in the last quarter. Wendell David Associates Inc. raised its holdings in shares of Northrop Grumman by 2.0% during the 1st quarter. Wendell David Associates Inc. now owns 1,972 shares of the aerospace company’s stock worth $944,000 after acquiring an additional 38 shares in the last quarter. PFG Investments LLC purchased a new stake in shares of Northrop Grumman during the 1st quarter worth approximately $574,000. Finally, Parsons Capital Management Inc. RI raised its holdings in shares of Northrop Grumman by 14.7% during the 1st quarter. Parsons Capital Management Inc. RI now owns 1,150 shares of the aerospace company’s stock worth $551,000 after acquiring an additional 147 shares in the last quarter. 83.40% of the stock is currently owned by institutional investors.

About Northrop Grumman

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.