Magnus Financial Group LLC Sells 71 Shares of Northrop Grumman Co. (NYSE:NOC)

Magnus Financial Group LLC reduced its position in shares of Northrop Grumman Co. (NYSE:NOC) by 13.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 470 shares of the aerospace company’s stock after selling 71 shares during the quarter. Magnus Financial Group LLC’s holdings in Northrop Grumman were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in NOC. Intellectus Partners LLC raised its stake in shares of Northrop Grumman by 105.5% during the first quarter. Intellectus Partners LLC now owns 2,825 shares of the aerospace company’s stock worth $1,446,000 after buying an additional 1,450 shares during the last quarter. Signal Advisors Wealth LLC acquired a new stake in Northrop Grumman during the 1st quarter worth $207,000. Vest Financial LLC bought a new stake in shares of Northrop Grumman during the 1st quarter valued at $222,000. Charles Schwab Trust Co acquired a new position in shares of Northrop Grumman in the 1st quarter valued at $280,000. Finally, Salvus Wealth Management LLC boosted its position in shares of Northrop Grumman by 1.5% in the 1st quarter. Salvus Wealth Management LLC now owns 1,349 shares of the aerospace company’s stock worth $691,000 after purchasing an additional 20 shares during the last quarter. 83.40% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Northrop Grumman news, VP Roshan S. Roeder sold 991 shares of Northrop Grumman stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $490.00, for a total value of $485,590.00. Following the sale, the vice president now directly owns 319 shares in the company, valued at approximately $156,310. The trade was a 75.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 1,057 shares of company stock valued at $517,733 in the last quarter. 0.23% of the stock is currently owned by insiders.

Northrop Grumman Trading Up 0.3%

Shares of NYSE:NOC opened at $489.55 on Friday. The firm has a market cap of $70.46 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 3.73 and a beta of 0.14. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 0.96. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company’s fifty day simple moving average is $491.04 and its 200 day simple moving average is $482.38.

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

Northrop Grumman Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on NOC. Citigroup upped their price objective on Northrop Grumman from $587.00 to $591.00 and gave the company a “buy” rating in a report on Monday, February 10th. Royal Bank of Canada cut their price target on shares of Northrop Grumman from $575.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company set a $525.00 price objective on shares of Northrop Grumman and gave the stock an “overweight” rating in a research note on Thursday, April 24th. UBS Group lowered their target price on shares of Northrop Grumman from $583.00 to $571.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Susquehanna cut their target price on shares of Northrop Grumman from $557.00 to $540.00 and set a “positive” rating on the stock in a report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $545.31.

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.