UBS Group Lowers Northrop Grumman (NYSE:NOC) Price Target to $558.00

Northrop Grumman (NYSE:NOC) had its price objective decreased by investment analysts at UBS Group from $579.00 to $558.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. UBS Group’s target price indicates a potential upside of 14.85% from the company’s current price.

Several other brokerages have also recently commented on NOC. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research report on Tuesday, October 8th. Truist Financial assumed coverage on shares of Northrop Grumman in a research report on Tuesday, January 14th. They set a “buy” rating and a $544.00 price target for the company. Wells Fargo & Company decreased their price objective on shares of Northrop Grumman from $595.00 to $574.00 and set an “overweight” rating for the company in a report on Friday. Barclays cut their price target on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com raised shares of Northrop Grumman from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 19th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $544.31.

Northrop Grumman Price Performance

NYSE:NOC traded up $2.50 during mid-day trading on Friday, reaching $485.87. 397,169 shares of the company were exchanged, compared to its average volume of 849,352. Northrop Grumman has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a fifty day moving average of $478.40 and a 200 day moving average of $497.53. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.00. The stock has a market cap of $70.79 billion, a PE ratio of 30.10, a PEG ratio of 0.91 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, January 30th. The aerospace company reported $6.39 EPS for the quarter, topping analysts’ consensus estimates of $6.27 by $0.12. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. On average, research analysts anticipate that Northrop Grumman will post 25.96 EPS for the current fiscal year.

Northrop Grumman declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 11th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the aerospace company to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Benjamin R. Davies sold 1,156 shares of the 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 sale, the vice president now owns 537 shares of the company’s stock, valued at approximately $286,183.41. This represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 1,255 shares of company stock worth $663,859 in the last quarter. 0.22% of the stock is owned by insiders.

Institutional Trading of Northrop Grumman

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trinity Street Asset Management LLP grew its position in shares of Northrop Grumman by 3.8% during the 4th quarter. Trinity Street Asset Management LLP now owns 48,367 shares of the aerospace company’s stock worth $22,698,000 after buying an additional 1,786 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Northrop Grumman during the 3rd quarter worth approximately $604,000. Fisher Asset Management LLC grew its position in shares of Northrop Grumman by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 212,514 shares of the aerospace company’s stock worth $112,222,000 after buying an additional 5,334 shares during the period. AIA Group Ltd grew its position in shares of Northrop Grumman by 20.0% during the 3rd quarter. AIA Group Ltd now owns 7,458 shares of the aerospace company’s stock worth $3,938,000 after buying an additional 1,242 shares during the period. Finally, Parsons Capital Management Inc. RI grew its position in shares of Northrop Grumman by 1,316.9% during the 4th quarter. Parsons Capital Management Inc. RI now owns 16,139 shares of the aerospace company’s stock worth $7,574,000 after buying an additional 15,000 shares during the period. 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.