Northrop Grumman Corporation (NOC) was Downgraded by JP Morgan to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 231 from a previous price target of $225 . Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on Aug 25, 2016.
On the company’s financial health, Northrop Grumman Corporation reported $2.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $2.53. The company had revenue of $6000.00 million for the quarter, compared to analysts expectations of $5921.84 million. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 EPS.
Northrop Grumman Corporation closed down -3.76 points or -1.72% at $214.5 with 10,35,871 shares getting traded on Tuesday. Post opening the session at $218.84, the shares hit an intraday low of $214.22 and an intraday high of $218.9 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on Aug 18, 2016, Mark A Caylor (Corp VP & Pres ES & CSO) sold 5,466 shares at $218.27 per share price. According to the SEC, on Aug 16, 2016, Thomas E Vice (Corp VP & Pres Aerospace Sys) sold 20,997 shares at $217.94 per share price. On Aug 8, 2016, Gloria A Flach (CVP & Chief Operating Officer) sold 3,769 shares at $218.78 per share price, according to the Form-4 filing with the securities and exchange commission.
Northrop Grumman Corporation is a global security company. The Company 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 customers across the world. The Company operates through four segments: 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. It participates in many high-priority defense and Government programs in the United States and abroad. The Company conducts business with the United States Government the Department of Defense (DoD) and intelligence community. The Company also conducts business with local state and foreign Governments and domestic and international commercial customers.