Northrop Grumman (NYSE:NOC) PT Raised to $509.00 at Wells Fargo & Company

Northrop Grumman (NYSE:NOC) had its price target lifted by equities researchers at Wells Fargo & Company from $467.00 to $509.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 8.18% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Susquehanna increased their price target on Northrop Grumman from $540.00 to $560.00 and gave the stock a “positive” rating in a report on Friday, April 26th. Royal Bank of Canada increased their target price on shares of Northrop Grumman from $450.00 to $475.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Sanford C. Bernstein lowered shares of Northrop Grumman from an “outperform” rating to a “market perform” rating and set a $477.00 price objective on the stock. in a report on Friday, June 21st. Jefferies Financial Group lowered their price objective on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a research report on Tuesday, June 18th. Finally, Robert W. Baird upped their price target on Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $509.71.

Northrop Grumman Price Performance

Shares of NOC stock opened at $470.53 on Friday. The firm’s 50-day moving average is $441.27 and its two-hundred day moving average is $455.43. Northrop Grumman has a 12 month low of $414.56 and a 12 month high of $496.89. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.13 and a quick ratio of 1.02. The company has a market capitalization of $69.63 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 2.06 and a beta of 0.33.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 EPS for the quarter, beating the consensus estimate of $5.95 by $0.41. The firm had revenue of $10.22 billion for the quarter, compared to analyst estimates of $10.02 billion. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.34 EPS. Analysts predict that Northrop Grumman will post 24.71 earnings per share for the current year.

Institutional Investors Weigh In On Northrop Grumman

Several institutional investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in Northrop Grumman during the 4th quarter worth about $25,000. SRS Capital Advisors Inc. raised its position in shares of Northrop Grumman by 960.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 48 shares in the last quarter. Optimum Investment Advisors lifted its stake in Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 41 shares during the last quarter. Bank & Trust Co acquired a new position in Northrop Grumman in the second quarter valued at approximately $28,000. Finally, Frazier Financial Advisors LLC purchased a new position in Northrop Grumman in the fourth quarter valued at approximately $29,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

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.