Fortem Financial Group LLC Has $565,000 Stake in Northrop Grumman Corporation (NYSE:NOC)

Fortem Financial Group LLC lifted its position in shares of Northrop Grumman Corporation (NYSE:NOC - Free Report) by 118.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,104 shares of the aerospace company's stock after buying an additional 598 shares during the quarter. Fortem Financial Group LLC's holdings in Northrop Grumman were worth $565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NOC. GAMMA Investing LLC raised its stake in shares of Northrop Grumman by 55,522.3% during the 1st quarter. GAMMA Investing LLC now owns 1,520,158 shares of the aerospace company's stock worth $778,336,000 after buying an additional 1,517,425 shares during the last quarter. Capital International Investors raised its stake in shares of Northrop Grumman by 5.9% during the 4th quarter. Capital International Investors now owns 8,239,434 shares of the aerospace company's stock worth $3,866,133,000 after buying an additional 461,307 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Northrop Grumman by 28.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,030,644 shares of the aerospace company's stock worth $952,962,000 after buying an additional 450,858 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Northrop Grumman by 337.1% during the 4th quarter. First Trust Advisors LP now owns 482,112 shares of the aerospace company's stock worth $226,250,000 after buying an additional 371,814 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Northrop Grumman by 24.7% during the 4th quarter. Invesco Ltd. now owns 1,733,680 shares of the aerospace company's stock worth $813,599,000 after buying an additional 343,018 shares during the last quarter. Institutional investors and hedge funds own 83.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOC. Royal Bank Of Canada cut their target price on shares of Northrop Grumman from $575.00 to $550.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen downgraded shares of Northrop Grumman from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th. Truist Financial cut their target price on shares of Northrop Grumman from $600.00 to $550.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Northrop Grumman in a research note on Monday. Finally, Susquehanna dropped their price objective on shares of Northrop Grumman from $557.00 to $540.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Northrop Grumman has an average rating of "Moderate Buy" and a consensus price target of $550.00.

Northrop Grumman Price Performance

NYSE:NOC traded down $4.29 during mid-day trading on Tuesday, reaching $516.82. 539,474 shares of the stock were exchanged, compared to its average volume of 878,048. The business has a fifty day moving average price of $489.89 and a 200 day moving average price of $486.10. The firm has a market capitalization of $74.38 billion, a PE ratio of 20.40, a PEG ratio of 6.11 and a beta of 0.15. Northrop Grumman Corporation has a 1-year low of $426.24 and a 1-year high of $555.57. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $6.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.33 by ($0.27). The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $10.07 billion. Northrop Grumman had a return on equity of 25.46% and a net margin of 9.19%. Research analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 2nd were given a $2.31 dividend. This is a positive change from Northrop Grumman's previous quarterly dividend of $2.06. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $9.24 dividend on an annualized basis and a dividend yield of 1.79%. Northrop Grumman's dividend payout ratio (DPR) is 36.46%.

Insider Buying and Selling

In other Northrop Grumman news, VP Robert J. Fleming sold 3,500 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total transaction of $1,770,195.00. Following the completion of the sale, the vice president directly owned 1,827 shares in the company, valued at approximately $924,041.79. This trade represents a 65.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas H. Jones sold 729 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $368,706.33. Following the sale, the vice president owned 7,552 shares of the company's stock, valued at $3,819,575.04. The trade was a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,569 shares of company stock worth $8,323,150. Company insiders own 0.23% of the company's stock.

Northrop Grumman Profile

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.