The stock of Northrop Grumman Corporation (NYSE:NOC) hit a new 52-week high and has $261.72 target or 4.00% above today’s $251.65 share price. The 7 months bullish chart indicates low risk for the $44.42B company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $261.72 price target is reached, the company will be worth $1.78B 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 494,579 shares traded hands. Northrop Grumman Corporation (NYSE:NOC) has risen 22.30% since April 26, 2016 and is uptrending. It has outperformed by 17.04% the S&P500.
Analysts await Northrop Grumman Corporation (NYSE:NOC) to report earnings on January, 26. They expect $2.49 EPS, up 14.22% or $0.31 from last year’s $2.18 per share. NOC’s profit will be $439.52 million for 25.27 P/E if the $2.49 EPS becomes a reality. After $3.02 actual EPS reported by Northrop Grumman Corporation for the previous quarter, Wall Street now forecasts -17.55% negative EPS growth.
Northrop Grumman Corporation (NYSE:NOC) Ratings Coverage
Out of 9 analysts covering Northrop Grumman (NYSE:NOC), 6 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 67% are positive. Northrop Grumman has been the topic of 22 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Monday, October 12 by JP Morgan. The rating was downgraded by RBC Capital Markets to “Sector Perform” on Thursday, May 19. The company was maintained on Friday, January 29 by RBC Capital Markets. On Monday, May 2 the stock rating was maintained by Barclays Capital with “Equal-Weight”. JP Morgan downgraded Northrop Grumman Corporation (NYSE:NOC) rating on Thursday, August 25. JP Morgan has “Neutral” rating and $231 price target. The firm earned “Peer Perform” rating on Thursday, October 29 by Wolfe Research. Barclays Capital maintained Northrop Grumman Corporation (NYSE:NOC) rating on Tuesday, February 16. Barclays Capital has “Equal-Weight” rating and $189 price target. The firm has “Buy” rating given on Wednesday, October 28 by Drexel Hamilton. RBC Capital Markets maintained the shares of NOC in a report on Thursday, July 30 with “Outperform” rating. Robert W. Baird initiated it with “Outperform” rating and $260 target price in Thursday, October 6 report.
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 is 0.99 in Q2 2016. Its the same as in 2016Q1. The ratio has no change, as 36 funds sold all Northrop Grumman Corporation shares owned while 270 reduced positions. only 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.
Westpac Bk Corp accumulated 0% or 128,311 shares. Factory Mutual holds 0.5% or 169,300 shares in its portfolio. Amp Cap Investors Limited has 0.17% invested in the company for 118,159 shares. Murphy Capital Management, a New Jersey-based fund reported 5,487 shares. Ghp Inv Advsrs, a Colorado-based fund reported 1,329 shares. Advisory Networks Ltd Llc accumulated 1,737 shares or 0.09% of the stock. Delta Asset Ltd Tn holds 0.01% of its portfolio in Northrop Grumman Corporation (NYSE:NOC) for 245 shares. The New York-based Genesee Valley Tru has invested 0.82% in Northrop Grumman Corporation (NYSE:NOC). Sunbelt Securities has 0% invested in the company for 123 shares. Daiwa Sb Invests Limited has 2.65% invested in the company for 42,190 shares. Carnegie Capital Asset Management Ltd Liability Company reported 70,067 shares or 2.16% of all its holdings. State Street Corporation reported 19.80M shares or 0.47% of all its holdings. Wilbanks Smith And Thomas Asset Mngmt Limited Liability Com owns 3,841 shares or 0.09% of their US portfolio. Citigroup has invested 0.06% of its portfolio in Northrop Grumman Corporation (NYSE:NOC). Palisade Limited Co Nj accumulated 4,725 shares or 0.04% of the stock.
Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 18 insider sales for $26.00 million net activity. On Wednesday, November 2 BUSH WESLEY G sold $7.99 million worth of the stock or 35,000 shares. The insider Jones Christopher T sold $51,120. $436,739 worth of Northrop Grumman Corporation (NYSE:NOC) was sold by Peppard Denise M.. Bedingfield Kenneth L sold $28,688 worth of Northrop Grumman Corporation (NYSE:NOC) on Tuesday, November 1. $824,582 worth of Northrop Grumman Corporation (NYSE:NOC) was sold by FLACH GLORIA A. VICE THOMAS E had sold 20,997 shares worth $4.58M. Another trade for 3,105 shares valued at $669,190 was sold by CHESTON SHEILA C..
More news for Northrop Grumman Corporation (NYSE:NOC) were recently published by: Profitconfidential.com, which released: “Northrop Grumman Corporation: New Cold War Could Send NOC Stock Soaring” on September 02, 2016. Profitconfidential.com‘s article titled: “Northrop Grumman Corporation: Triple-Digit Upside for NOC Stock?” and published on July 18, 2016 is yet another important article.
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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