Royal Bank of Canada started coverage on shares of Northrop Grumman (NYSE:NOC) in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm issued a sector perform rating and a $366.00 target price on the aerospace company’s stock. The analysts noted that the move was a valuation call.

Several other research analysts have also recently issued reports on NOC. Barclays reiterated a buy rating and issued a $455.00 price objective on shares of Northrop Grumman in a report on Thursday, January 23rd. Seaport Global Securities initiated coverage on shares of Northrop Grumman in a report on Tuesday. They issued a buy rating and a $398.00 price objective for the company. Cowen upgraded shares of Northrop Grumman from a market perform rating to an outperform rating and increased their price objective for the company from $360.00 to $370.00 in a report on Friday, May 15th. Goldman Sachs Group lowered shares of Northrop Grumman from a buy rating to a sell rating and cut their target price for the company from $409.00 to $337.00 in a research note on Monday, February 3rd. Finally, Morgan Stanley increased their target price on shares of Northrop Grumman from $380.00 to $412.00 and gave the company an overweight rating in a research note on Tuesday, April 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $387.92.

NYSE NOC traded down $2.20 on Wednesday, hitting $325.91. The stock had a trading volume of 723,923 shares, compared to its average volume of 884,530. The company’s 50-day moving average is $331.34 and its two-hundred day moving average is $344.60. The company has a quick ratio of 1.21, a current ratio of 1.29 and a debt-to-equity ratio of 1.72. The stock has a market cap of $54.70 billion, a price-to-earnings ratio of 24.56 and a beta of 0.81. Northrop Grumman has a one year low of $263.31 and a one year high of $385.01.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $5.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.36). The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.54 billion. Northrop Grumman had a net margin of 6.57% and a return on equity of 39.22%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $5.06 earnings per share. On average, sell-side analysts anticipate that Northrop Grumman will post 22.12 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Monday, June 1st will be given a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, May 29th. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.32. Northrop Grumman’s dividend payout ratio is 24.89%.

In related news, VP Mark A. Caylor sold 4,805 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $361.07, for a total value of $1,734,941.35. Following the completion of the sale, the vice president now owns 17,755 shares in the company, valued at approximately $6,410,797.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Mark A. Caylor sold 3,340 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $324.69, for a total transaction of $1,084,464.60. Following the completion of the sale, the vice president now owns 14,415 shares of the company’s stock, valued at approximately $4,680,406.35. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the stock. Procyon Private Wealth Partners LLC purchased a new stake in Northrop Grumman in the 4th quarter worth approximately $26,000. Raab & Moskowitz Asset Management LLC purchased a new stake in Northrop Grumman in the 4th quarter worth approximately $27,000. Bay Harbor Wealth Management LLC purchased a new stake in Northrop Grumman in the 1st quarter worth approximately $25,000. Versant Capital Management Inc lifted its position in Northrop Grumman by 54.4% in the 1st quarter. Versant Capital Management Inc now owns 88 shares of the aerospace company’s stock worth $26,000 after buying an additional 31 shares in the last quarter. Finally, OLD Second National Bank of Aurora purchased a new stake in Northrop Grumman in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 82.58% of the company’s stock.

Northrop Grumman Company Profile

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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Analyst Recommendations for Northrop Grumman (NYSE:NOC)

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