Gabelli Funds LLC Acquires 805 Shares of Northrop Grumman Co. (NYSE:NOC)

Gabelli Funds LLC boosted its position in Northrop Grumman Co. (NYSE:NOC) by 3.4% in the second quarter, HoldingsChannel reports. The firm owned 24,525 shares of the aerospace company’s stock after buying an additional 805 shares during the quarter. Gabelli Funds LLC’s holdings in Northrop Grumman were worth $11,178,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. IHT Wealth Management LLC lifted its stake in shares of Northrop Grumman by 1.6% during the 1st quarter. IHT Wealth Management LLC now owns 1,371 shares of the aerospace company’s stock valued at $613,000 after buying an additional 22 shares in the last quarter. Cooper Financial Group lifted its stake in Northrop Grumman by 3.9% in the 2nd quarter. Cooper Financial Group now owns 612 shares of the aerospace company’s stock worth $279,000 after purchasing an additional 23 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in Northrop Grumman by 0.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,258 shares of the aerospace company’s stock worth $1,485,000 after purchasing an additional 23 shares in the last quarter. Keel Point LLC lifted its stake in Northrop Grumman by 2.5% in the 2nd quarter. Keel Point LLC now owns 955 shares of the aerospace company’s stock worth $435,000 after purchasing an additional 23 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its stake in Northrop Grumman by 1.7% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,414 shares of the aerospace company’s stock worth $644,000 after purchasing an additional 23 shares in the last quarter. 82.40% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Northrop Grumman news, VP Mark A. Caylor sold 1,670 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $472.62, for a total value of $789,275.40. Following the sale, the vice president now owns 12,900 shares of the company’s stock, valued at approximately $6,096,798. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Northrop Grumman news, VP Mark A. Caylor sold 1,670 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $472.62, for a total value of $789,275.40. Following the sale, the vice president now owns 12,900 shares of the company’s stock, valued at approximately $6,096,798. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Roshan S. Roeder sold 1,007 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $465.00, for a total transaction of $468,255.00. Following the completion of the sale, the vice president now directly owns 913 shares of the company’s stock, valued at $424,545. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Northrop Grumman Price Performance

NOC stock opened at $465.82 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.14 and a current ratio of 1.28. Northrop Grumman Co. has a 52 week low of $414.56 and a 52 week high of $549.87. The firm’s fifty day moving average is $457.79 and its 200 day moving average is $448.53. The firm has a market cap of $70.24 billion, a P/E ratio of 15.28, a P/E/G ratio of 8.43 and a beta of 0.42.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, October 26th. The aerospace company reported $6.18 EPS for the quarter, beating the consensus estimate of $5.81 by $0.37. The company had revenue of $9.78 billion for the quarter, compared to analyst estimates of $9.58 billion. Northrop Grumman had a net margin of 12.07% and a return on equity of 24.24%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.89 EPS. Research analysts predict that Northrop Grumman Co. will post 22.73 earnings per share for the current year.

Northrop Grumman Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 27th will be issued a $1.87 dividend. This represents a $7.48 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Friday, November 24th. Northrop Grumman’s dividend payout ratio (DPR) is presently 24.54%.

Analyst Ratings Changes

NOC has been the topic of several recent analyst reports. Citigroup lowered their target price on shares of Northrop Grumman from $502.00 to $485.00 and set a “neutral” rating on the stock in a research note on Friday, July 28th. Bank of America lowered their target price on shares of Northrop Grumman from $655.00 to $615.00 and set a “buy” rating on the stock in a research note on Friday, July 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $500.00 target price on shares of Northrop Grumman in a research note on Thursday, August 3rd. Wells Fargo & Company decreased their price target on shares of Northrop Grumman from $485.00 to $435.00 and set an “equal weight” rating on the stock in a report on Monday, September 18th. Finally, StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Northrop Grumman currently has an average rating of “Hold” and an average price target of $500.20.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems in the United States and internationally. 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.