Northrop Grumman (NOC) Gets a Buy from Bank of America Securities

Bank of America Securities analyst Ronald Epstein maintained a Buy rating on Northrop Grumman yesterday and set a price target of $750.00. The company’s shares closed yesterday at $725.39.

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According to TipRanks, Epstein is a top 100 analyst with an average return of 21.8% and a 69.17% success rate. Epstein covers the Industrials sector, focusing on stocks such as Boeing, L3Harris Technologies, and Northrop Grumman.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Northrop Grumman with a $733.75 average price target, implying a 1.15% upside from current levels. In a report released on February 18, Citi also maintained a Buy rating on the stock with a $781.00 price target.

Based on Northrop Grumman’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $11.71 billion and a net profit of $1.43 billion. In comparison, last year the company earned a revenue of $10.69 billion and had a net profit of $1.26 billion

Based on the recent corporate insider activity of 60 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. Earlier this month, Michael Hardesty, the Corp VP, Controller & CAO of NOC sold 147.00 shares for a total of $107,748.06.