Northrop Grumman Co. (NYSE:NOC) Shares Bought by Whitener Capital Management Inc.

Whitener Capital Management Inc. grew its stake in Northrop Grumman Co. (NYSE:NOC) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,669 shares of the aerospace company’s stock after purchasing an additional 107 shares during the period. Whitener Capital Management Inc.’s holdings in Northrop Grumman were worth $783,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Northrop Grumman in the 3rd quarter valued at about $31,000. FSA Wealth Management LLC purchased a new position in Northrop Grumman in the 3rd quarter valued at approximately $36,000. Modus Advisors LLC purchased a new stake in Northrop Grumman during the fourth quarter worth $38,000. Catalyst Capital Advisors LLC purchased a new position in shares of Northrop Grumman in the third quarter valued at $40,000. Finally, True Wealth Design LLC purchased a new stake in shares of Northrop Grumman in the 3rd quarter worth about $53,000. 83.40% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Northrop Grumman

In other news, VP Benjamin R. Davies sold 1,156 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $532.93, for a total value of $616,067.08. Following the transaction, the vice president now owns 537 shares in the company, valued at $286,183.41. This represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 1,255 shares of company stock valued at $663,859. 0.22% of the stock is currently owned by corporate insiders.

Northrop Grumman Stock Performance

Shares of NOC stock opened at $482.49 on Friday. Northrop Grumman Co. has a 12-month low of $418.60 and a 12-month high of $555.57. The firm has a market capitalization of $70.30 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 0.87 and a beta of 0.35. The business has a 50 day simple moving average of $481.48 and a 200 day simple moving average of $493.38. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.09 and a quick ratio of 0.97.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.79% and a return on equity of 26.57%. The business had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. During the same quarter last year, the business earned $6.18 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts anticipate that Northrop Grumman Co. will post 25.93 EPS for the current year.

Northrop Grumman declared that its Board of Directors has approved a share repurchase plan on Wednesday, December 11th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a $2.06 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.71%. Northrop Grumman’s dividend payout ratio (DPR) is 51.05%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays dropped their price target on Northrop Grumman from $550.00 to $500.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. UBS Group lifted their target price on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada raised their price objective on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. TD Cowen raised Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company raised shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and set a $595.00 price target for the company in a research report on Wednesday, January 8th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Northrop Grumman presently has an average rating of “Hold” and a consensus target price of $550.94.

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.