Northrop Grumman (NYSE:NOC) Stock Upgrade
JP Morgan gave Northrop Grumman (NYSE:NOC) shares a new “Overweight” rating in analysts report published on Wednesday morning. The boost from the preceding “Neutral” rating is certainly an interesting one.
From a total of 14 analysts covering Northrop Grumman (NYSE:NOC) stock, 7 rate it a ”Buy”, 0 a “Sell”, and 11 a ”Hold”. This means that 39% of the ratings are positive. The highest target price is $222 while the lowest target price is $176. The mean of all analyst targets is $199.71 with a 6.12% above today’s ($188.3) stock price. Northrop Grumman was the topic of 11 analyst reports since July 30, 2015 according to the firm StockzIntelligence Inc. Argus Research maintained shares on November 12 with “Buy” rating. RBC Capital Markets maintained NOC stock in a recent report from October 29 with “Outperform” rating.
Approximately 262,010 shares of stock traded hands. Northrop Grumman Corporation (NYSE:NOC) has risen 21.02% since May 13, 2015 and is uptrending. It has outperformed by 23.64% the S&P500.
The overall sentiment of institutions has decreased to 0.74 in Q2 2015. Its down 0.06, from 0.8 in 2015Q2. The ratio dropped, as 36 institutions have sold all the shares of Northrop Grumman Corporation that they owned while 296 funds have taken shares off the table. 62 funds have purchased shares for the first time while 185 added to their positions. These institutions now hold 139.81 million shares or 11.30% less than the 157.62 million shares they owned in 2015Q2.
The Fund D.C. Capital Advisors Ltd currently is holding shares equating to 3.69% of its total portfolio in Northrop Grumman Corporation representing a total of 35,000 shares. Another fund,Barometer Capital Management Inc., is holding a total of 175,450 shares equating to 3.59% of their holdings. Additionally, Wespac Advisors Llc has a 11,927 share stake in Northrop Grumman Corporation which represents 3.47% of their total portfolio. The Fund, Pointstate Capital Lp, based out of New York, has also built up a stake in the stock, which represents a total of 3.21% of their total portfolio. Finally Verity Asset Management Inc., a fund which is based in the state of North Carolina reported a total holdings of 19,254 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 9, 2015, shareholders of Northrop Grumman Corporation have witnessed 0 insider purchases, and a total of 2 insider sales equating to a net activity of approximately $5.50 million . Jones Christopher T sold 2,000 shares worth approximately $337,156. Bush Wesley G sold 30,000 shares worth approximately $5.16 million. Hardesty Michael A sold 385 shares worth approximately $61,735. Antkowiak Patrick M. sold 4,009 shares worth approximately $635,266. The company insider Bedingfield Kenneth L sold 2,450 shares worth $380,681.
Northrop Grumman Corporation is a global security company. The company has a market cap of $34.19 billion. The Firm provides systems, products and solutions in unmanned systems; cyber; command, control, communications and computers , intelligence, surveillance, and reconnaissance (C4ISR); strike aircraft, and logistics and modernization to government and commercial clients across the world. It has 18.14 P/E ratio. The Firm operates through four divisions: Aerospace Systems, Electronic Systems, Information Systems and Technical Services.
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)”