Bernstein Keeps Their Buy Rating on Northrop Grumman (NOC)

In a report released yesterday, Douglas Harned from Bernstein maintained a Buy rating on Northrop Grumman (NOC – Research Report), with a price target of $535.00. The company’s shares closed yesterday at $452.50.

Harned covers the Industrials sector, focusing on stocks such as Boeing, Northrop Grumman, and Airbus Group SE. According to TipRanks, Harned has an average return of 5.0% and a 50.00% success rate on recommended stocks.

The word on The Street in general, suggests a Hold analyst consensus rating for Northrop Grumman with a $487.07 average price target.

Based on Northrop Grumman’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $9.58 billion and a net profit of $812 million. In comparison, last year the company earned a revenue of $8.8 billion and had a net profit of $946 million

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NOC in relation to earlier this year.

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Northrop Grumman (NOC) Company Description:

Virginia-based Northrop Grumman Corp. is a global aerospace and defense technology company. It operates through the following business segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems.