The stock of Northrop Grumman Corporation (NYSE:NOC) hit a new 52-week high and has $325.47 target or 41.00% above today’s $230.83 share price. The 8 months bullish chart indicates low risk for the $40.69 billion company. The 1-year high was reported on Nov, 8 by Barchart.com. If the $325.47 price target is reached, the company will be worth $16.68B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 51,878 shares traded hands. Northrop Grumman Corporation (NYSE:NOC) has risen 11.35% since April 5, 2016 and is uptrending. It has outperformed by 9.39% the S&P500.
Northrop Grumman Corporation (NYSE:NOC) Ratings Coverage
Out of 9 analysts covering Northrop Grumman (NYSE:NOC), 5 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 56% are positive. Northrop Grumman has been the topic of 21 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, November 12 by Argus Research. The stock has “Neutral” rating given by JP Morgan on Monday, October 12. RBC Capital Markets maintained the stock with “Outperform” rating in Friday, January 29 report. RBC Capital Markets maintained it with “Outperform” rating and $206 target price in Thursday, October 29 report. The firm has “Neutral” rating given on Thursday, August 25 by JP Morgan. The company was upgraded on Wednesday, October 28 by Drexel Hamilton. As per Thursday, July 30, the company rating was maintained by RBC Capital Markets. The rating was downgraded by Wolfe Research to “Peer Perform” on Thursday, October 29. The rating was downgraded by RBC Capital Markets to “Sector Perform” on Thursday, May 19. The company was maintained on Tuesday, February 16 by Barclays Capital.
According to Zacks Investment Research, “Northrop Grumman Corporation is a high technology company providing innovative solutions in systems integration, defense electronics and information technology for its U.S. and international military, government and commercial customers, as a prime contractor, principal subcontractor, team member or preferred supplier. (Company Press Release)”
Insitutional Activity: The institutional sentiment increased to 0.99 in 2016 Q2. Its up 0.14, from 0.85 in 2016Q1. The ratio improved, as 36 funds sold all Northrop Grumman Corporation shares owned while 270 reduced positions. 85 funds bought stakes while 219 increased positions. They now own 146.34 million shares or 7.23% less from 157.73 million shares in 2016Q1.
Srb Corporation, a Massachusetts-based fund reported 664 shares. Exxonmobil Investment Tx holds 0.22% of its portfolio in Northrop Grumman Corporation (NYSE:NOC) for 46,710 shares. Krasney Fincl Ltd Co has invested 1.24% of its portfolio in Northrop Grumman Corporation (NYSE:NOC). First Quadrant L P Ca holds 174,595 shares or 0.86% of its portfolio. First City Cap has 5,381 shares for 0.9% of their US portfolio. Columbia Prns L L C Mgmt accumulated 20,089 shares or 0.33% of the stock. Cambridge Tru Com holds 0.02% of its portfolio in Northrop Grumman Corporation (NYSE:NOC) for 1,367 shares. Folger Nolan Fleming Douglas holds 0.04% or 1,024 shares in its portfolio. Burke And Herbert National Bank & Trust And Trust Communication accumulated 0.27% or 1,337 shares. Highland Llc last reported 0.23% of its portfolio in the stock. Texas Permanent School Fund holds 0.17% or 58,546 shares in its portfolio. Jag Cap Mngmt Limited Liability Co holds 0.06% of its portfolio in Northrop Grumman Corporation (NYSE:NOC) for 1,176 shares. Chevy Chase Tru holds 157,586 shares or 0.2% of its portfolio. Fred Alger, a New York-based fund reported 304 shares. Moreover, Winslow Evans & Crocker has 0% invested in Northrop Grumman Corporation (NYSE:NOC) for 2,800 shares.
Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 17 insider sales for $24.76 million net activity. The insider Bedingfield Kenneth L sold $26,625. Shares for $7.65 million were sold by BUSH WESLEY G on Wednesday, August 3. Another trade for 3,769 shares valued at $824,582 was sold by FLACH GLORIA A. On Thursday, September 1 the insider Jones Christopher T sold $50,928. 20,997 shares were sold by VICE THOMAS E, worth $4.58 million on Friday, August 12. On Tuesday, June 7 the insider CHESTON SHEILA C. sold $669,190. Peppard Denise M. had sold 2,015 shares worth $462,443.
NOC Company Profile
Northrop Grumman Corporation (Northrop Grumman), incorporated on August 4, 2010, is a global security company. The Firm provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers (C4), intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to Government and commercial clients across the world. The Firm operates through four divisions: Aerospace Systems, Electronic Systems, Information Systems and Technical Services. It offers a portfolio of capabilities and technologies that enable it to deliver systems and solutions for applications. The Firm participates in defense and government programs in the United States and abroad. The Firm conducts business with the United States Government, the Department of Defense (DoD) and intelligence community. The Firm also conducts business with local, state and foreign Governments, and domestic and international commercial customers.
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