Northrop Grumman (NYSE:NOC) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Northrop Grumman (NYSE:NOC) from a buy rating to a hold rating in a report published on Monday.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company increased their price target on Northrop Grumman from $483.00 to $518.00 in a report on Tuesday, June 18th. Robert W. Baird lifted their target price on shares of Northrop Grumman from $475.00 to $505.00 and gave the company a neutral rating in a report on Friday, April 26th. Jefferies Financial Group cut their price target on shares of Northrop Grumman from $530.00 to $500.00 and set a hold rating for the company in a report on Tuesday, June 18th. Sanford C. Bernstein lowered 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. Finally, Royal Bank of Canada increased their target price on Northrop Grumman from $450.00 to $475.00 and gave the stock a sector perform rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $510.36.

Northrop Grumman Trading Up 0.8 %

NYSE NOC opened at $434.86 on Monday. Northrop Grumman has a one year low of $414.56 and a one year high of $496.89. The firm has a market cap of $64.35 billion, a PE ratio of 30.41, a P/E/G ratio of 2.00 and a beta of 0.35. The firm’s fifty day moving average is $456.95 and its two-hundred day moving average is $459.90. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.02 and a current ratio of 1.13.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The firm had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter in the previous year, the firm posted $5.50 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts expect that Northrop Grumman will post 24.7 earnings per share for the current year.

Northrop Grumman Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were given a $2.06 dividend. The ex-dividend date of this dividend was Friday, May 24th. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.87. This represents a $8.24 annualized dividend and a dividend yield of 1.89%. Northrop Grumman’s payout ratio is currently 57.62%.

Hedge Funds Weigh In On Northrop Grumman

Several hedge funds have recently added to or reduced their stakes in the business. HM Payson & Co. lifted its holdings in shares of Northrop Grumman by 8.3% in the first quarter. HM Payson & Co. now owns 3,054 shares of the aerospace company’s stock valued at $1,462,000 after purchasing an additional 234 shares in the last quarter. NBW Capital LLC raised its position in shares of Northrop Grumman by 7.8% during the 1st quarter. NBW Capital LLC now owns 8,690 shares of the aerospace company’s stock worth $4,160,000 after purchasing an additional 627 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in Northrop Grumman by 41.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 635 shares of the aerospace company’s stock valued at $304,000 after buying an additional 187 shares in the last quarter. Pathway Financial Advisers LLC acquired a new stake in Northrop Grumman during the 1st quarter valued at $1,623,000. Finally, Birmingham Capital Management Co. Inc. AL purchased a new position in Northrop Grumman during the first quarter worth $203,000. 83.40% of the stock is currently owned by hedge funds and other 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.