Northrop Grumman (NYSE:NOC) Given New $565.00 Price Target at Wells Fargo & Company

Northrop Grumman (NYSE:NOC) had its price objective increased by investment analysts at Wells Fargo & Company from $509.00 to $565.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 7.89% from the stock’s current price.

Other research analysts also recently issued reports about the stock. UBS Group lifted their price target on shares of Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised Northrop Grumman from a “hold” rating to a “buy” rating and increased their price objective for the company from $474.00 to $575.00 in a research note on Monday, July 29th. Royal Bank of Canada lifted their target price on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Alembic Global Advisors lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a report on Tuesday, August 27th. Finally, Barclays increased their target price on shares of Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Northrop Grumman presently has an average rating of “Hold” and an average target price of $538.50.

Northrop Grumman Price Performance

NYSE:NOC opened at $523.68 on Friday. The firm has a market capitalization of $76.58 billion, a price-to-earnings ratio of 34.18, a P/E/G ratio of 2.38 and a beta of 0.34. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11. The stock has a fifty day moving average of $522.88 and a 200 day moving average of $480.30. Northrop Grumman has a 52-week low of $418.60 and a 52-week high of $555.57.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.18 EPS. On average, research analysts expect that Northrop Grumman will post 25.16 EPS for the current fiscal year.

Insider Activity at Northrop Grumman

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 1,490 shares of company stock valued at $747,372. 0.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Northrop Grumman

Several large investors have recently bought and sold shares of NOC. Wealthcare Advisory Partners LLC grew its stake in shares of Northrop Grumman by 13.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,540 shares of the aerospace company’s stock worth $737,000 after acquiring an additional 182 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Northrop Grumman by 15.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 39,608 shares of the aerospace company’s stock worth $18,959,000 after buying an additional 5,184 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Northrop Grumman by 5.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,773 shares of the aerospace company’s stock valued at $2,763,000 after buying an additional 306 shares during the period. Founders Financial Securities LLC increased its holdings in Northrop Grumman by 6.2% during the first quarter. Founders Financial Securities LLC now owns 2,281 shares of the aerospace company’s stock valued at $1,092,000 after buying an additional 134 shares during the last quarter. Finally, River Street Advisors LLC raised its position in Northrop Grumman by 105.6% in the first quarter. River Street Advisors LLC now owns 1,293 shares of the aerospace company’s stock worth $619,000 after acquiring an additional 664 shares during the period. 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.