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

Gabelli Funds LLC increased its stake in shares of Northrop Grumman Co. (NYSE:NOC) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,525 shares of the aerospace company’s stock after acquiring an additional 805 shares during the quarter. Gabelli Funds LLC’s holdings in Northrop Grumman were worth $11,178,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. increased its position in Northrop Grumman by 0.5% during the first quarter. Principal Financial Group Inc. now owns 177,660 shares of the aerospace company’s stock worth $82,029,000 after acquiring an additional 819 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Northrop Grumman by 1.5% during the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,754 shares of the aerospace company’s stock worth $1,255,000 after acquiring an additional 42 shares during the period. Independent Advisor Alliance bought a new position in Northrop Grumman during the first quarter worth $3,023,000. Brighton Jones LLC increased its position in Northrop Grumman by 22.2% during the second quarter. Brighton Jones LLC now owns 1,228 shares of the aerospace company’s stock worth $559,000 after acquiring an additional 223 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. increased its position in Northrop Grumman by 19.7% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 16,380 shares of the aerospace company’s stock worth $7,562,000 after acquiring an additional 2,699 shares during the period. Institutional investors own 82.40% of the company’s stock.

Insider Activity

In other news, VP Mark A. Caylor sold 1,670 shares of Northrop Grumman stock in a transaction that occurred 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 directly owns 12,900 shares in the company, valued at $6,096,798. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Mark A. Caylor sold 1,670 shares of Northrop Grumman stock in a transaction that occurred 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 directly owns 12,900 shares in the company, valued at $6,096,798. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Roshan S. Roeder sold 1,007 shares of the firm’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $465.00, for a total transaction of $468,255.00. Following the completion of the transaction, 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. 0.26% of the stock is owned by corporate insiders.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $465.82 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.28 and a quick ratio of 1.14. The stock has a market cap of $70.24 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 8.43 and a beta of 0.42. The stock has a 50-day moving average of $457.79 and a 200-day moving average of $448.53. Northrop Grumman Co. has a one year low of $414.56 and a one year high of $549.87.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, October 26th. The aerospace company reported $6.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.81 by $0.37. Northrop Grumman had a return on equity of 24.24% and a net margin of 12.07%. The business had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $9.58 billion. During the same period in the prior year, the business earned $5.89 EPS. Northrop Grumman’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, sell-side analysts expect that Northrop Grumman Co. will post 22.73 earnings per share for the current year.

Northrop Grumman Dividend Announcement

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

Wall Street Analysts Forecast Growth

NOC has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Northrop Grumman from $430.00 to $435.00 and gave the company a “neutral” rating in a report on Tuesday, October 31st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Northrop Grumman in a report on Wednesday, September 27th. They issued a “buy” rating and a $502.00 price target on the stock. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Tuesday, November 14th. Bank of America lowered their price target on shares of Northrop Grumman from $655.00 to $615.00 and set a “buy” rating on the stock in a report on Friday, July 28th. Finally, Wells Fargo & Company lowered 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.