KMG Fiduciary Partners LLC Has $3.44 Million Stake in Northrop Grumman Co. (NYSE:NOC)

KMG Fiduciary Partners LLC boosted its stake in Northrop Grumman Co. (NYSE:NOC) by 6.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,719 shares of the aerospace company’s stock after purchasing an additional 398 shares during the period. KMG Fiduciary Partners LLC’s holdings in Northrop Grumman were worth $3,440,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Miracle Mile Advisors LLC increased its holdings in Northrop Grumman by 24.9% in the first quarter. Miracle Mile Advisors LLC now owns 708 shares of the aerospace company’s stock valued at $363,000 after purchasing an additional 141 shares during the period. Sivia Capital Partners LLC acquired a new stake in Northrop Grumman in the first quarter valued at $505,000. Stokes Capital Advisors LLC increased its holdings in Northrop Grumman by 1.6% in the first quarter. Stokes Capital Advisors LLC now owns 15,620 shares of the aerospace company’s stock valued at $7,998,000 after purchasing an additional 243 shares during the period. SeaCrest Wealth Management LLC increased its holdings in Northrop Grumman by 3.9% in the first quarter. SeaCrest Wealth Management LLC now owns 1,159 shares of the aerospace company’s stock valued at $593,000 after purchasing an additional 44 shares during the period. Finally, Procyon Advisors LLC increased its holdings in Northrop Grumman by 43.5% in the first quarter. Procyon Advisors LLC now owns 8,506 shares of the aerospace company’s stock valued at $4,355,000 after purchasing an additional 2,580 shares during the period. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Northrop Grumman

In related news, VP Roshan S. Roeder sold 991 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the transaction, the vice president now owns 319 shares of the company’s stock, valued at approximately $156,310. This trade represents a 75.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 1,057 shares of company stock valued at $517,733. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NOC shares. Truist Financial decreased their price target on Northrop Grumman from $600.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Wall Street Zen downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a report on Thursday, April 24th. Citigroup increased their price target on Northrop Grumman from $587.00 to $591.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Royal Bank of Canada decreased their price target on Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Finally, UBS Group decreased their price target on Northrop Grumman from $583.00 to $571.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $545.31.

Northrop Grumman Price Performance

NOC stock opened at $489.55 on Friday. The stock has a market capitalization of $70.46 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 3.73 and a beta of 0.14. The company’s 50-day moving average is $491.04 and its 200-day moving average is $482.38. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.01 and a quick ratio of 0.91. Northrop Grumman Co. has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.27). Northrop Grumman had a net margin of 10.17% and a return on equity of 26.24%. The business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $10.07 billion. Equities research analysts expect that Northrop Grumman Co. will post 28.05 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 2nd will be given a $2.31 dividend. This is a boost from Northrop Grumman’s previous quarterly dividend of $2.06. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $9.24 annualized dividend and a yield of 1.89%. Northrop Grumman’s dividend payout ratio (DPR) is presently 36.46%.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company’s Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.