In this article, I will go through the weekly dividend
increases and cuts in popular and well-known stocks. (Member of The Dividend
Champions or Canadian All-Star list)
Recently, 13 companies announced dividend increases. Note
that no dividend cuts or suspensions were announced during this period.
A number of other equities research analysts also recently
issued reports on the stock. TD Securities upped their price objective on
shares of Thomson Reuters from C$160.00 to C$165.00 and gave the stock a
"buy" rating in a research report on Wednesday, November 3rd. Royal
Bank of Canada upped their price objective on shares of Thomson Reuters from
C$122.00 to C$123.00 and gave the stock a "sector perform" rating in
a research report on Wednesday, November 3rd. National Bankshares raised shares
of Thomson Reuters from a "sector perform" rating to a
"buy" rating and set a C$162.00 price objective for the company in a
research report on Tuesday. Finally, BNP Paribas raised shares of Thomson
Reuters to a "hold" rating in a research report on Wednesday,
November 3rd. Three analysts have rated the stock with a hold rating and three
have given a buy rating to the company. Based on data from MarketBeat, the
company has an average rating of "Buy" and a consensus price target
of C$147.67. Read
more …
A number of other analysts also recently issued reports on
the company. Jefferies Financial Group raised their target price on Wells Fargo
& Company from $51.00 to $57.00 and gave the stock a "buy" rating
in a research note on Monday, October 11th. Morgan Stanley raised Wells Fargo
& Company from an "equal weight" rating to an
"overweight" rating and set a $61.00 target price for the company in
a research note on Monday, December 6th. UBS Group assumed coverage on Wells
Fargo & Company in a research note on Friday, December 10th. They issued a
"buy" rating and a $65.00 target price for the company. TheStreet
raised Wells Fargo & Company from a "c+" rating to a
"b-" rating in a research note on Thursday, October 14th. Finally,
Raymond James raised their target price on Wells Fargo & Company from
$55.00 to $58.00 and gave the stock an "outperform" rating in a
research note on Thursday, December 9th. Three investment analysts have rated
the stock with a hold rating, sixteen have assigned a buy rating and one has
given a strong buy rating to the company. According to MarketBeat, Wells Fargo
& Company has an average rating of "Buy" and a consensus target
price of $52.24. Read
more …
Several other research analysts have also commented on DTE.
Evercore ISI upgraded DTE Energy from an "in-line" rating to an
"outperform" rating and set a $127.00 price target for the company in
a research report on Friday, September 17th. Mizuho dropped their price target
on DTE Energy from $126.00 to $124.00 and set a "buy" rating for the
company in a research report on Monday, November 22nd. Morgan Stanley upgraded
DTE Energy from an "equal weight" rating to an "overweight"
rating and lifted their price target for the stock from $127.00 to $133.00 in a
research report on Thursday, January 6th. Wells Fargo & Company upgraded
DTE Energy from an "equal weight" rating to an "overweight"
rating and dropped their price target for the stock from $124.00 to $123.00 in
a research report on Wednesday, December 1st. Finally, JPMorgan Chase & Co.
lowered DTE Energy from an "overweight" rating to a
"neutral" rating and set a $126.00 price target for the company. in a
research report on Friday, January 7th. One equities research analyst has rated
the stock with a sell rating, four have given a hold rating, six have issued a
buy rating and one has assigned a strong buy rating to the company's stock.
Based on data from MarketBeat, DTE Energy has an average rating of "Buy"
and a consensus target price of $128.30. Read
more …
Several other equities research analysts have also weighed
in on HAL. Morgan Stanley raised Halliburton from an "equal weight"
rating to an "overweight" rating and increased their target price for
the stock from $28.00 to $30.00 in a research report on Tuesday, January 4th.
Citigroup raised their price target on Halliburton from $28.00 to $30.00 and
gave the company a "buy" rating in a report on Wednesday, October
20th. COKER & PALMER raised Halliburton from a "sector perform"
rating to an "outperform" rating and set a $24.00 price target on the
stock in a report on Tuesday, October 12th. Argus raised Halliburton from a
"hold" rating to a "buy" rating and set a $32.00 price
target on the stock in a report on Wednesday, October 20th. Finally, Wells
Fargo & Company raised their target price on Halliburton from $21.00 to
$22.00 and gave the company an "equal weight" rating in a research
note on Friday, October 1st. Six equities research analysts have rated the
stock with a hold rating, fourteen have issued a buy rating and one has issued
a strong buy rating to the company's stock. According to MarketBeat.com,
Halliburton has a consensus rating of "Buy" and a consensus target
price of $26.09. Read
more …
KIM has been the topic of a number of other research
reports. Evercore ISI upgraded Kimco Realty from an "in-line" rating
to an "outperform" rating and lifted their target price for the
company from $24.00 to $26.00 in a research report on Monday, November 22nd.
Wolfe Research initiated coverage on Kimco Realty in a research report on
Thursday, September 23rd. They issued a "market perform" rating and a
$24.00 target price on the stock. Citigroup lifted their target price on Kimco
Realty from $26.00 to $28.00 and gave the company a "buy" rating in a
research report on Thursday, December 2nd. Truist lifted their target price on
Kimco Realty from $25.00 to $27.00 and gave the company a "buy"
rating in a research report on Friday, December 10th. Finally, Deutsche Bank
Aktiengesellschaft downgraded Kimco Realty from a "buy" rating to a
"hold" rating and boosted their price objective for the company from
$24.00 to $26.00 in a report on Monday. Four analysts have rated the stock with
a hold rating and twelve have assigned a buy rating to the stock. According to
MarketBeat.com, the company currently has a consensus rating of "Buy"
and a consensus price target of $25.60. Read
more …
Several other research analysts also recently weighed in on
MET. The Goldman Sachs Group assumed coverage on shares of MetLife in a
research report on Thursday, December 2nd. They issued a "buy" rating
and a $77.00 target price on the stock. Wells Fargo & Company dropped their
target price on shares of MetLife from $75.00 to $74.00 and set an
"overweight" rating on the stock in a research report on Tuesday.
Barclays boosted their price objective on shares of MetLife from $69.00 to
$72.00 and gave the company an "overweight" rating in a research
report on Tuesday, October 12th. Finally, Morgan Stanley boosted their price
objective on shares of MetLife from $74.00 to $75.00 and gave the company an
"overweight" rating in a research report on Thursday, October 14th.
Thirteen research analysts have rated the stock with a buy rating, Based on
data from MarketBeat, MetLife has an average rating of "Buy" and an
average price target of $69.29. Read
more …
Several other research firms have also weighed in on PFE.
Sanford C. Bernstein raised their price objective on shares of Pfizer from
$44.00 to $65.00 and gave the company a "market perform" rating in a
research report on Monday. UBS Group upgraded shares of Pfizer from a
"neutral" rating to a "buy" rating and raised their target
price for the stock from $52.00 to $60.00 in a report on Monday, December 13th.
Truist raised their target price on shares of Pfizer from $43.00 to $58.00 and
gave the stock a "buy" rating in a report on Wednesday, November
24th. JPMorgan Chase & Co. set a $53.00 target price on shares of Pfizer in
a report on Monday, December 13th. Finally, Barclays set a $54.00 target price
on shares of Pfizer in a report on Tuesday. Nine analysts have rated the stock
with a hold rating, twelve have assigned a buy rating and one has issued a
strong buy rating to the stock. Based on data from MarketBeat, the company
currently has a consensus rating of "Buy" and a consensus price
target of $56.15. Read
more …
A number of other analysts have also recently commented on
SU. Credit Suisse Group upped their price objective on shares of Suncor Energy
from C$36.00 to C$42.00 and gave the company an "outperform" rating
in a research report on Tuesday, November 2nd. BMO Capital Markets upped their
price objective on shares of Suncor Energy from C$39.00 to C$43.00 and gave the
company an "outperform" rating in a research report on Friday,
October 29th. TD Securities increased their target price on Suncor Energy from
C$39.00 to C$40.00 and gave the stock a "buy" rating in a report on
Thursday, October 28th. Scotiabank increased their target price on Suncor
Energy from C$33.00 to C$37.00 and gave the stock an "outperform"
rating in a report on Friday, November 19th. Finally, JPMorgan Chase & Co.
upgraded Suncor Energy from a "neutral" rating to an
"overweight" rating and increased their target price for the stock
from $29.00 to $39.00 in a report on Thursday, October 28th. Two investment
analysts have rated the stock with a hold rating and thirteen have given a buy
rating to the company. According to data from MarketBeat.com, the stock
presently has a consensus rating of "Buy" and a consensus target
price of $37.86. Read
more …
Several other research analysts have also issued reports on
the company. Telsey Advisory Group increased their price target on Best Buy
from $140.00 to $150.00 and gave the stock an "outperform" rating in
a report on Wednesday, August 25th. Jefferies Financial Group increased their
price target on Best Buy from $136.00 to $145.00 and gave the stock a
"buy" rating in a report on Wednesday, August 25th. Wells Fargo &
Company upgraded Best Buy to a "buy" rating in a report on Wednesday,
August 25th. DA Davidson upgraded Best Buy to a "buy" rating in a
report on Wednesday, August 25th. Finally, Bank of America upgraded Best Buy to
a "buy" rating and raised their target price for the company from
$145.00 to $157.00 in a report on Wednesday, August 25th. One investment
analyst has rated the stock with a sell rating, four have assigned a hold
rating and thirteen have issued a buy rating to the company. Based on data from
MarketBeat.com, the stock currently has a consensus rating of "Buy"
and an average price target of $127.53. Read
more …
Several other analysts have also commented on ABT. Redburn
Partners initiated coverage on Abbott Laboratories in a report on Thursday,
October 14th. They issued a "neutral" rating and a $132.28 price
objective for the company. Cowen reaffirmed a "buy" rating and issued
a $140.00 price objective on shares of Abbott Laboratories in a report on
Friday, October 8th. Zacks Investment Research raised Abbott Laboratories from
a "strong sell" rating to a "hold" rating and set a $127.00
price objective for the company in a report on Tuesday, August 3rd. Raymond
James lifted their price objective on Abbott Laboratories from $128.00 to
$134.00 and gave the stock an "outperform" rating in a report on
Thursday, October 21st. Finally, Citigroup boosted their price target on Abbott
Laboratories from $135.00 to $140.00 and gave the company a "buy"
rating in a report on Friday, October 1st. Three research analysts have rated
the stock with a hold rating and eleven have issued a buy rating to the
company. According to data from MarketBeat, the stock has an average rating of
"Buy" and a consensus target price of $134.94. Read
more …
GD has been the subject of a number of other reports. Zacks
Investment Research upgraded shares of General Dynamics from a “hold” rating to
a “buy” rating and set a $208.00 price target for the company in a report on
Thursday, August 5th. Credit Suisse Group boosted their target price on shares
of General Dynamics from $182.00 to $198.00 and gave the company a “neutral”
rating in a report on Thursday, July 29th. The Goldman Sachs Group upgraded
shares of General Dynamics from a “sell” rating to a “neutral” rating and set a
$176.00 target price for the company in a report on Thursday, September 23rd.
Finally, Cowen restated a “buy” rating on shares of General Dynamics in a
report on Monday, August 9th. Two research analysts have rated the stock with a
sell rating, two have given a hold rating and eight have given a buy rating to
the stock. Based on data from MarketBeat, General Dynamics has an average
rating of “Buy” and a consensus price target of $213.91. Read
more …
A number of other brokerages also recently commented on NSC.
Citigroup lowered their price objective on Norfolk Southern from $325.00 to
$310.00 and set a “buy” rating for the company in a research note on Wednesday,
October 6th. Evercore ISI raised Norfolk Southern from an “in-line” rating to
an “outperform” rating and increased their price target for the stock from
$301.00 to $303.00 in a research note on Friday, July 9th. Wells Fargo &
Company decreased their price target on Norfolk Southern from $318.00 to
$312.00 and set an “overweight” rating for the company in a research note on Thursday,
October 7th. Finally, Atlantic Securities began coverage on Norfolk Southern in
a research note on Monday, July 12th. They issued a “neutral” rating and a
$276.00 price target for the company. Two research analysts have rated the
stock with a sell rating, six have issued a hold rating and fourteen have
issued a buy rating to the company. According to data from MarketBeat.com, the
company currently has a consensus rating of “Buy” and an average target price
of $287.57. Read
more …
Other research analysts also recently issued reports about
the stock. Credit Suisse Group raised shares of Colgate-Palmolive from a
"neutral" rating to an "outperform" rating and raised their
price objective for the stock from $80.00 to $95.00 in a research report on
Wednesday, June 9th. Evercore ISI reissued a "buy" rating and set a
$95.00 price objective on shares of Colgate-Palmolive in a research report on
Sunday, June 20th. Finally, UBS Group assumed coverage on shares of Colgate-Palmolive
in a research report on Wednesday, June 23rd. They set a "buy" rating
and a $95.00 price objective on the stock. Two investment analysts have rated
the stock with a sell rating, six have given a hold rating and four have issued
a buy rating to the company's stock. According to MarketBeat, the company
currently has a consensus rating of "Hold" and a consensus target
price of $85.54. Read
more …
Several other analysts also recently weighed in on CNI.
Credit Suisse Group dropped their target price on shares of Canadian National
Railway from $121.00 to $112.00 and set an “outperform” rating on the stock in
a research report on Wednesday, July 21st. Desjardins dropped their target
price on shares of Canadian National Railway from C$147.00 to C$145.00 and set
a “hold” rating on the stock in a research report on Wednesday, May 26th.
Barclays dropped their target price on shares of Canadian National Railway from
$119.00 to $115.00 and set an “equal weight” rating on the stock in a research
report on Wednesday, July 14th. National Bank Financial upped their price
objective on shares of Canadian National Railway from C$139.00 to C$144.00 and
gave the company a “sector perform” rating in a report on Monday. Finally, Loop
Capital downgraded shares of Canadian National Railway from a “buy” rating to a
“hold” rating and set a $157.00 price objective on the stock. in a report on
Wednesday, September 1st. Eleven research analysts have rated the stock with a
hold rating and twelve have given a buy rating to the stock. According to data
from MarketBeat, the company presently has a consensus rating of “Buy” and an
average target price of $139.06. Read
more …
A number of other analysts also recently issued reports on
the company. Credit Suisse Group reaffirmed a “neutral” rating on shares of
National Bank of Canada in a research note on Thursday, September 2nd. CIBC
increased their price target on National Bank of Canada from C$98.00 to C$102.00
and gave the stock a “neutral” rating in a report on Thursday, August 26th.
CSFB increased their price target on National Bank of Canada from C$106.00 to
C$110.00 in a report on Wednesday, September 1st. Royal Bank of Canada
increased their price target on National Bank of Canada from C$97.00 to C$99.00
and gave the stock a “sector perform” rating in a report on Thursday, August
26th. Finally, TD Securities lowered their price target on National Bank of
Canada from C$100.00 to C$99.00 and set a “hold” rating for the company in a
report on Thursday, August 26th. Five investment analysts have rated the stock
with a hold rating and four have assigned a buy rating to the company.
According to MarketBeat, the company currently has an average rating of “Hold” and
an average price target of C$98.85. Read
more …
Other analysts also recently issued reports about the
company. Kepler Capital Markets upgraded ABB from a "hold" rating to
a "buy" rating and set a $36.00 price target for the company in a
research note on Friday, July 2nd. Deutsche Bank Aktiengesellschaft restated a
"hold" rating on shares of ABB in a research note on Tuesday, July
27th. JPMorgan Chase & Co. set a $36.78 target price on ABB and gave the
company a "neutral" rating in a research report on Friday, July 23rd.
HSBC upgraded ABB from a "hold" rating to a "buy" rating in
a research report on Thursday, May 27th. Finally, Barclays set a $36.78 target
price on ABB and gave the company an "equal weight" rating in a
research report on Friday, July 23rd. One equities research analyst has rated
the stock with a sell rating, nine have given a hold rating, five have given a
buy rating and one has issued a strong buy rating to the company. Based on data
from MarketBeat, the company presently has an average rating of
"Hold" and a consensus target price of $35.88. Read
more …
Several other equities analysts have also recently commented
on DVN. Barclays upped their target price on shares of Devon Energy from $22.00
to $27.00 and gave the company an “overweight” rating in a research note on
Wednesday, April 7th. JPMorgan Chase & Co. upped their target price on
shares of Devon Energy from $22.00 to $30.00 in a research note on Thursday,
March 18th. Morgan Stanley increased their price objective on shares of Devon
Energy from $27.00 to $28.00 and gave the company an “overweight” rating in a
research note on Wednesday, May 19th. Zacks Investment Research cut shares of
Devon Energy from a “buy” rating to a “hold” rating and set a $29.00 price
objective for the company. in a research note on Tuesday, May 18th. Finally,
Citigroup increased their price objective on shares of Devon Energy from $24.00
to $29.00 in a research note on Tuesday, March 23rd. Three research analysts
have rated the stock with a hold rating, nineteen have issued a buy rating and
one has given a strong buy rating to the stock. Devon Energy has an average
rating of “Buy” and an average target price of $26.16. Read
more …
Other equities analysts have also issued reports about the
stock. Barclays boosted their target price on shares of Williams-Sonoma from
$144.00 to $187.00 and gave the company an "overweight" rating in a
report on Wednesday, March 24th. William Blair reiterated a "market
perform" rating on shares of Williams-Sonoma in a report on Tuesday, April
27th. Wells Fargo & Company boosted their target price on shares of
Williams-Sonoma from $155.00 to $175.00 and gave the company an "equal
weight" rating in a report on Tuesday, May 25th. Loop Capital boosted
their target price on shares of Williams-Sonoma from $110.00 to $150.00 and
gave the company a "hold" rating in a report on Thursday, March 18th.
Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon
Russell assumed coverage on shares of Williams-Sonoma in a report on Monday,
March 15th. They issued a "neutral" rating and a $127.00 target price
on the stock. Two research analysts have rated the stock with a sell rating,
eleven have given a hold rating and five have issued a buy rating to the stock.
Williams-Sonoma currently has a consensus rating of "Hold" and an
average target price of $161.28. Read
more …
A number of other equities analysts have also issued reports
on the company. Canaccord Genuity raised their price target on The Bank of Nova
Scotia from $77.00 to $81.00 and gave the stock a “hold” rating in a report on
Wednesday, April 21st. BMO Capital Markets lifted their price objective on The
Bank of Nova Scotia from $75.00 to $80.00 and gave the company an “outperform”
rating in a report on Wednesday, February 24th. Barclays lifted their price
objective on The Bank of Nova Scotia from $60.00 to $69.00 and gave the company
an “underweight” rating in a report on Tuesday, February 16th. Zacks Investment
Research raised The Bank of Nova Scotia from a “hold” rating to a “buy” rating
and set a $74.00 price objective on the stock in a report on Thursday, May
27th. Finally, Royal Bank of Canada lifted their price objective on The Bank of
Nova Scotia from $77.00 to $84.00 and gave the company an “outperform” rating
in a report on Wednesday, February 24th. One investment analyst has rated the
stock with a sell rating, two have given a hold rating and eight have assigned
a buy rating to the company’s stock. The Bank of Nova Scotia has a consensus
rating of “Buy” and a consensus target price of $76.46. Read
more …
A number of other equities research analysts have also
recently commented on the stock. Piper Sandler raised shares of Federal Realty
Investment Trust from a “neutral” rating to an “overweight” rating and lifted
their price target for the stock from $95.00 to $125.00 in a report on
Thursday, May 6th. Stifel Nicolaus cut shares of Federal Realty Investment
Trust from a “buy” rating to a “hold” rating and boosted their target price for
the company from $89.00 to $95.00 in a report on Wednesday, February 10th.
Truist Securities boosted their target price on shares of Federal Realty
Investment Trust from $88.00 to $96.00 and gave the company a “hold” rating in a
report on Monday, March 22nd. Truist boosted their target price on shares of
Federal Realty Investment Trust from $88.00 to $96.00 in a report on Monday,
March 22nd. Finally, TheStreet cut shares of Federal Realty Investment Trust
from a “b-” rating to a “c” rating in a report on Wednesday, May 5th. Twelve
investment analysts have rated the stock with a hold rating and five have given
a buy rating to the company’s stock. The stock presently has an average rating
of “Hold” and an average price target of $96.12. Read
more …
While the S&P 500 has railed almost 16% over the last
year, the aerospace and defense sector has struggled. One of the worst
performers in the group is Northrop Grumman Corp. (NYSE:NOC), which is down by
more than 20% over the last 12 months.
There is a lot to like about Northrop Grumman, including
higher defense spending, a record backlog for the company and nearly two
decades of dividend growth. These are some of the reasons I have been so
bullish on the stock. While the recent stock performance has been very weak,
shares now trade at a price that offers the potential for tremendous gains.
Company background and historical performance
Northrop Grumman is one of the largest aerospace and defense
contractors in the country. The company is comprised of four reportable
business segments, including Aeronautics Systems, which provides manned and
unmanned aircraft and UAVs, Mission Systems, which produces radars, sensors and
surveillance and targeting systems, Defense Systems, which provides sustainment
and modernization services and tactical weapons, and Space Systems, which
manufactures missile defense and space systems.
Northrop Grumman has a market capitalization of almost $50
billion and generated revenue of nearly $34 billion in 2019. The company had a
record backlog of $81.3 billion at the end of the most recent quarter.
As you can see from the 30-year chart above, Northrop
Grumman generally had steady revenue growth until early in the last decade.
This is a largely a result of the company spinning off of its ship building
business, Huntington Ingalls Industries Inc. (NYSE:HII), in 2011. As such,
revenue is down slightly from 2010 through 2019. Revenue has grown at a rate of
7.5% over the last half-decade.
Despite this loss of revenue from its shipbuilding business,
the decline in profits wasn't that steep. In fact, the company's net profits
grew with a compound annual growth rate of 7.5% over the last decade. Removing
the ship building business helped for an improvement in profit margin, which grew
from 5% in 2010 to 10.7% in 2019.
As a result, Northrop Grumman ranks higher than many of its
peers in terms of profitability.