Northrop Grumman (NYSE:NOC) PT Raised to $518.00 at Wells Fargo & Company

Northrop Grumman (NYSE:NOC - Get Free Report) had its price objective raised by Wells Fargo & Company from $483.00 to $518.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the aerospace company's stock. Wells Fargo & Company's price target would suggest a potential upside of 6.78% from the stock's previous close.

A number of other brokerages also recently issued reports on NOC. TheStreet downgraded Northrop Grumman from a "b+" rating to a "c+" rating in a report on Thursday, January 25th. Royal Bank of Canada lifted their price target on Northrop Grumman from $450.00 to $475.00 and gave the company a "sector perform" rating in a report on Friday. Alembic Global Advisors upgraded Northrop Grumman from a "neutral" rating to an "overweight" rating and set a $532.00 target price on the stock in a research note on Monday, April 22nd. StockNews.com upgraded Northrop Grumman from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Susquehanna boosted their target price on Northrop Grumman from $540.00 to $560.00 and gave the stock a "positive" rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Northrop Grumman presently has an average rating of "Hold" and a consensus price target of $509.38.

Northrop Grumman Price Performance

Northrop Grumman stock traded down $1.13 during midday trading on Tuesday, reaching $485.09. 907,848 shares of the stock traded hands, compared to its average volume of 1,001,923. The stock has a market cap of $71.79 billion, a P/E ratio of 33.92, a PEG ratio of 1.93 and a beta of 0.35. Northrop Grumman has a 12 month low of $414.56 and a 12 month high of $496.89. The stock's fifty day moving average is $463.92 and its 200-day moving average is $465.75. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 1.04.

Northrop Grumman (NYSE:NOC - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $9.77 billion. During the same period last year, the company earned $5.50 EPS. Northrop Grumman's quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Northrop Grumman will post 24.7 EPS for the current year.

Insider Activity

In other news, CAO Michael A. Hardesty sold 955 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the transaction, the chief accounting officer now owns 4,137 shares of the company's stock, valued at approximately $1,863,180.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Michael A. Hardesty sold 955 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the transaction, the chief accounting officer now owns 4,137 shares of the company's stock, valued at approximately $1,863,180.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Kathryn G. Simpson sold 711 shares of the company's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total value of $322,239.42. Following the completion of the transaction, the vice president now directly owns 2,024 shares of the company's stock, valued at approximately $917,317.28. The disclosure for this sale can be found here. Insiders sold a total of 3,149 shares of company stock valued at $1,421,147 in the last quarter. 0.22% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Northrop Grumman

A number of large investors have recently bought and sold shares of the business. Brookstone Capital Management increased its stake in Northrop Grumman by 16.8% during the 3rd quarter. Brookstone Capital Management now owns 2,903 shares of the aerospace company's stock worth $1,278,000 after buying an additional 418 shares in the last quarter. Busey Trust CO lifted its stake in Northrop Grumman by 2.6% during the third quarter. Busey Trust CO now owns 1,227 shares of the aerospace company's stock worth $540,000 after purchasing an additional 31 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Northrop Grumman by 4.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 48,552 shares of the aerospace company's stock worth $21,372,000 after purchasing an additional 1,996 shares in the last quarter. Xponance Inc. raised its stake in shares of Northrop Grumman by 1.8% in the third quarter. Xponance Inc. now owns 17,315 shares of the aerospace company's stock valued at $7,622,000 after acquiring an additional 302 shares in the last quarter. Finally, FinTrust Capital Advisors LLC raised its stake in shares of Northrop Grumman by 28.4% in the third quarter. FinTrust Capital Advisors LLC now owns 777 shares of the aerospace company's stock valued at $342,000 after acquiring an additional 172 shares in the last quarter. 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.