Northrop Grumman (NYSE:NOC) Price Target Cut to $550.00 by Analysts at Truist Financial

Northrop Grumman (NYSE:NOC) had its price target decreased by investment analysts at Truist Financial from $600.00 to $550.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Truist Financial’s target price suggests a potential upside of 18.52% from the company’s current price.

Several other research firms have also recently weighed in on NOC. Argus upgraded Northrop Grumman to a “strong-buy” rating in a research report on Wednesday, February 26th. Citigroup upped their target price on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a research report on Monday, February 10th. UBS Group decreased their price target on Northrop Grumman from $583.00 to $571.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays cut their price objective on shares of Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company boosted their target price on shares of Northrop Grumman from $545.00 to $547.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Ten investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Northrop Grumman currently has an average rating of “Moderate Buy” and an average price target of $542.94.

Northrop Grumman Stock Down 1.8 %

NYSE:NOC opened at $464.04 on Wednesday. Northrop Grumman has a 52-week low of $418.60 and a 52-week high of $555.57. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.01. The stock has a 50-day simple moving average of $491.00 and a 200 day simple moving average of $490.65. The company has a market cap of $66.89 billion, a PE ratio of 16.37, a PEG ratio of 3.73 and a beta of 0.20.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $6.06 EPS for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. The company had revenue of $9.47 billion during the quarter, compared to analyst estimates of $10.07 billion. On average, sell-side analysts expect that Northrop Grumman will post 28.05 EPS for the current fiscal year.

Insider Activity

In other Northrop Grumman news, VP Benjamin R. Davies sold 464 shares of Northrop Grumman stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $460.75, for a total value of $213,788.00. Following the sale, the vice president now owns 245 shares of the company’s stock, valued at approximately $112,883.75. The trade was a 65.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kathy J. Warden sold 3,750 shares of Northrop Grumman stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $475.65, for a total transaction of $1,783,687.50. Following the completion of the sale, the chief executive officer now directly owns 212,852 shares in the company, valued at $101,243,053.80. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,505 shares of company stock worth $2,127,182 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.

Institutional Trading of Northrop Grumman

Several hedge funds have recently made changes to their positions in NOC. Tudor Financial Inc. purchased a new stake in Northrop Grumman during the third quarter valued at about $1,130,000. Anchor Investment Management LLC boosted its holdings in Northrop Grumman by 21.5% in the 3rd quarter. Anchor Investment Management LLC now owns 1,504 shares of the aerospace company’s stock worth $794,000 after buying an additional 266 shares during the period. Stock Yards Bank & Trust Co. grew its stake in Northrop Grumman by 9.1% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 745 shares of the aerospace company’s stock valued at $393,000 after buying an additional 62 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Northrop Grumman by 274.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,566 shares of the aerospace company’s stock valued at $1,355,000 after acquiring an additional 1,880 shares during the period. Finally, Tidal Investments LLC lifted its position in shares of Northrop Grumman by 41.8% during the third quarter. Tidal Investments LLC now owns 5,403 shares of the aerospace company’s stock worth $2,853,000 after acquiring an additional 1,593 shares in the last quarter. 83.40% of the stock is currently owned by 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.