Market Runner: What’s Northrop Grumman Corporation Upside After Touching Record High?

Market Runner: What's Northrop Grumman Corporation Upside After Touching Record High?

The stock of Northrop Grumman Corporation (NYSE:NOC) reached all time high today, Nov, 29 and still has $261.60 target or 4.00% above today’s $251.54 share price. This indicates more upside for the $44.40B company. This technical setup was reported by Barchart.com. If the $261.60 PT is reached, the company will be worth $1.78B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 692,337 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 $439.52M for 25.26 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 “Buy” rating on Thursday, August 6 by Argus Research. Barclays Capital maintained it with “Equal-Weight” rating and $189 target price in Tuesday, February 16 report. The company was maintained on Friday, January 29 by RBC Capital Markets. On Thursday, November 10 the stock rating was upgraded by Barclays Capital to “Overweight”. The rating was maintained by Barclays Capital with “Equal-Weight” on Monday, May 2. The stock of Northrop Grumman Corporation (NYSE:NOC) has “Overweight” rating given on Wednesday, December 16 by JP Morgan. On Thursday, October 6 the stock rating was initiated by Robert W. Baird with “Outperform”. The firm earned “Neutral” rating on Thursday, August 25 by JP Morgan. The rating was downgraded by Wolfe Research to “Peer Perform” on Thursday, October 29. On Thursday, May 19 the stock rating was downgraded by RBC Capital Markets to “Sector Perform”.

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 is flat, 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.
The Massachusetts-based Wellington Mngmt Gru Llp has invested 0.19% in Northrop Grumman Corporation (NYSE:NOC). Argent last reported 1,485 shares in the company. Haverford Tru holds 0.01% or 2,196 shares in its portfolio. The New Hampshire-based Charter Trust has invested 0.11% in Northrop Grumman Corporation (NYSE:NOC). Regentatlantic Ltd Com has invested 1.43% of its portfolio in Northrop Grumman Corporation (NYSE:NOC). Toronto Dominion Natl Bank has invested 0% of its portfolio in Northrop Grumman Corporation (NYSE:NOC). Eaton Vance Mgmt accumulated 74,999 shares or 0.05% of the stock. Moody Comml Bank Tru Division last reported 0.11% of its portfolio in the stock. Krasney Limited Liability owns 24,142 shares or 1.24% of their US portfolio. Canada Pension Plan Investment Board accumulated 0.06% or 62,215 shares. Massmutual Company Fsb Adv has invested 0% of its portfolio in Northrop Grumman Corporation (NYSE:NOC). Cullen Frost Bankers has 5,275 shares for 0.04% of their US portfolio. Dixon Hubard Feinour And Brown Va holds 0.17% of its portfolio in Northrop Grumman Corporation (NYSE:NOC) for 2,375 shares. Department Mb Bank N A owns 12 shares or 0% of their US portfolio. Oak Assocs Limited Oh reported 11,459 shares or 0.31% of all its holdings.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 18 insider sales for $26.00 million net activity. Peppard Denise M. sold 2,015 shares worth $462,443. 3,105 shares with value of $669,190 were sold by CHESTON SHEILA C. on Tuesday, June 7. $824,582 worth of Northrop Grumman Corporation (NYSE:NOC) was sold by FLACH GLORIA A. Shares for $1.00M were sold by Felsinger Donald E on Friday, June 3. Bedingfield Kenneth L had sold 125 shares worth $26,625. Another trade for 20,997 shares valued at $4.58 million was sold by VICE THOMAS E. $7.65 million worth of Northrop Grumman Corporation (NYSE:NOC) was sold by BUSH WESLEY G.

Another recent and important Northrop Grumman Corporation (NYSE:NOC) news was published by Profitconfidential.com which published an article titled: “Northrop Grumman Corporation: New Cold War Could Send NOC Stock Soaring” on September 02, 2016.

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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