Gabelli Funds LLC Boosts Holdings in Northrop Grumman Co. (NYSE:NOC)

Gabelli Funds LLC raised its holdings in shares of Northrop Grumman Co. (NYSE:NOC) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,185 shares of the aerospace company’s stock after acquiring an additional 400 shares during the quarter. Gabelli Funds LLC’s holdings in Northrop Grumman were worth $11,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. increased its holdings in Northrop Grumman by 960.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 53 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 48 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Northrop Grumman during the fourth quarter worth about $25,000. Frazier Financial Advisors LLC purchased a new stake in shares of Northrop Grumman during the fourth quarter worth about $29,000. McIlrath & Eck LLC grew its holdings in shares of Northrop Grumman by 247.6% during the fourth quarter. McIlrath & Eck LLC now owns 73 shares of the aerospace company’s stock worth $34,000 after buying an additional 52 shares in the last quarter. Finally, Rise Advisors LLC purchased a new stake in shares of Northrop Grumman during the first quarter worth about $38,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

Northrop Grumman Trading Up 2.1 %

NOC stock traded up $9.73 during midday trading on Friday, reaching $480.30. 1,164,624 shares of the company’s stock traded hands, compared to its average volume of 785,878. The company has a market capitalization of $71.08 billion, a P/E ratio of 33.59, a PEG ratio of 2.20 and a beta of 0.33. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.11 and a quick ratio of 1.02. Northrop Grumman Co. has a fifty-two week low of $414.56 and a fifty-two week high of $496.89. The business has a 50-day moving average price of $441.47 and a two-hundred day moving average price of $455.34.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. The firm had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. Northrop Grumman’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $5.34 earnings per share. Equities research analysts forecast that Northrop Grumman Co. will post 25.1 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were given a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.72%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. The ex-dividend date was Friday, May 24th. Northrop Grumman’s payout ratio is 57.62%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NOC shares. Robert W. Baird lifted their price target on shares of Northrop Grumman from $475.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Royal Bank of Canada lifted their price target on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a “sector perform” rating in a report on Friday. Jefferies Financial Group lowered their price target on shares of Northrop Grumman from $530.00 to $500.00 and set a “hold” rating for the company in a report on Tuesday, June 18th. BTIG Research initiated coverage on shares of Northrop Grumman in a report on Wednesday, June 26th. They set a “buy” rating and a $565.00 price target for the company. Finally, UBS Group raised their target price on shares of Northrop Grumman from $593.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $515.07.

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.