Whitener Capital Management Inc. Raises Stock Holdings in Northrop Grumman Co. (NYSE:NOC)

Whitener Capital Management Inc. boosted its holdings in Northrop Grumman Co. (NYSE:NOC) by 11.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,562 shares of the aerospace company’s stock after purchasing an additional 166 shares during the period. Whitener Capital Management Inc.’s holdings in Northrop Grumman were worth $825,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Optimum Investment Advisors raised its stake in Northrop Grumman by 241.2% during the second quarter. Optimum Investment Advisors now owns 58 shares of the aerospace company’s stock valued at $25,000 after buying an additional 41 shares in the last quarter. Bank & Trust Co acquired a new stake in Northrop Grumman during the second quarter valued at approximately $28,000. Meeder Asset Management Inc. raised its stake in Northrop Grumman by 245.5% during the second quarter. Meeder Asset Management Inc. now owns 76 shares of the aerospace company’s stock valued at $33,000 after buying an additional 54 shares in the last quarter. Larson Financial Group LLC raised its stake in Northrop Grumman by 281.5% during the first quarter. Larson Financial Group LLC now owns 103 shares of the aerospace company’s stock valued at $49,000 after buying an additional 76 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Northrop Grumman during the second quarter valued at approximately $52,000. Hedge funds and other institutional investors own 83.40% of the company’s stock.

Northrop Grumman Stock Down 0.4 %

NOC opened at $506.95 on Friday. Northrop Grumman Co. has a 12 month low of $418.60 and a 12 month high of $555.57. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97. The stock has a market cap of $73.86 billion, a P/E ratio of 31.41, a P/E/G ratio of 1.03 and a beta of 0.35. The stock’s 50 day moving average price is $523.52 and its 200 day moving average price is $483.07.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating the consensus estimate of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a return on equity of 26.57% and a net margin of 5.79%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $6.18 EPS. As a group, research analysts predict that Northrop Grumman Co. will post 25.95 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $2.06 per share. This represents a $8.24 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is currently 51.05%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NOC. TD Cowen upgraded Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. UBS Group upped their price objective on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company upped their price objective on Northrop Grumman from $509.00 to $565.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. StockNews.com upgraded Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. increased their price target on Northrop Grumman from $500.00 to $560.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $550.56.

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.