Northrop Grumman (NYSE:NOC) Given New $650.00 Price Target at Bank of America

Northrop Grumman (NYSE:NOC - Get Free Report) had its target price upped by investment analysts at Bank of America from $550.00 to $650.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the aerospace company's stock. Bank of America's price objective suggests a potential upside of 14.13% from the stock's previous close.

NOC has been the subject of a number of other reports. Royal Bank Of Canada increased their price target on Northrop Grumman from $600.00 to $625.00 and gave the company an "outperform" rating in a research report on Tuesday. Robert W. Baird increased their price target on Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a research report on Wednesday. The Goldman Sachs Group raised Northrop Grumman from a "sell" rating to a "neutral" rating and increased their price target for the company from $424.00 to $521.00 in a research report on Friday, April 11th. Wall Street Zen lowered Northrop Grumman from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, UBS Group decreased their target price on Northrop Grumman from $583.00 to $571.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $569.33.

Northrop Grumman Stock Up 0.2%

Shares of NYSE:NOC traded up $1.04 during trading on Wednesday, reaching $569.52. 635,710 shares of the stock were exchanged, compared to its average volume of 771,872. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.84. Northrop Grumman has a 1-year low of $426.24 and a 1-year high of $576.86. The stock has a fifty day moving average of $501.34 and a two-hundred day moving average of $490.55. The firm has a market cap of $81.54 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 6.18 and a beta of 0.15.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts' consensus estimates of $6.84 by $0.27. The company had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%. Northrop Grumman's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.36 earnings per share. Research analysts anticipate that Northrop Grumman will post 28.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Northrop Grumman news, CEO Kathy J. Warden sold 7,500 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $3,793,275.00. Following the sale, the chief executive officer owned 201,602 shares of the company's stock, valued at $101,964,243.54. This trade represents a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas H. Jones sold 729 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the transaction, the vice president directly owned 7,552 shares in the company, valued at approximately $3,819,575.04. This represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,569 shares of company stock worth $8,323,150. 0.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northrop Grumman

Large investors have recently bought and sold shares of the stock. IMA Advisory Services Inc. purchased a new position in Northrop Grumman in the 1st quarter worth approximately $27,000. Saudi Central Bank purchased a new position in Northrop Grumman in the 1st quarter worth approximately $28,000. Banque Cantonale Vaudoise purchased a new position in Northrop Grumman in the 1st quarter worth approximately $30,000. Wood Tarver Financial Group LLC purchased a new position in Northrop Grumman in the 4th quarter worth approximately $32,000. Finally, Bellwether Advisors LLC purchased a new position in Northrop Grumman in the 4th quarter worth approximately $33,000. 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.