Credit Suisse AG cut its stake in shares of Orbital ATK, Inc. (NYSE:OA) by 50.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,314 shares of the aerospace company’s stock after selling 22,799 shares during the period. Credit Suisse AG’s holdings in Orbital ATK were worth $2,186,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in OA. BlackRock Inc. boosted its position in shares of Orbital ATK by 17,832.1% in the first quarter. BlackRock Inc. now owns 5,090,376 shares of the aerospace company’s stock worth $498,857,000 after buying an additional 5,061,989 shares during the last quarter. Vanguard Group Inc. boosted its position in Orbital ATK by 5.0% in the first quarter. Vanguard Group Inc. now owns 4,752,439 shares of the aerospace company’s stock worth $465,739,000 after buying an additional 227,516 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Orbital ATK by 0.4% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,123,788 shares of the aerospace company’s stock worth $208,131,000 after buying an additional 8,339 shares during the last quarter. Iridian Asset Management LLC CT boosted its position in Orbital ATK by 46.0% in the first quarter. Iridian Asset Management LLC CT now owns 1,802,566 shares of the aerospace company’s stock worth $176,651,000 after buying an additional 568,164 shares during the last quarter. Finally, FMR LLC boosted its position in Orbital ATK by 4.0% in the first quarter. FMR LLC now owns 1,075,543 shares of the aerospace company’s stock worth $105,403,000 after buying an additional 41,438 shares during the last quarter. 86.88% of the stock is owned by hedge funds and other institutional investors.
Orbital ATK, Inc. (NYSE OA) traded down 0.48% during midday trading on Friday, reaching $105.11. 183,373 shares of the company traded hands. Orbital ATK, Inc. has a one year low of $71.52 and a one year high of $110.55. The company has a 50 day moving average price of $103.46 and a 200-day moving average price of $98.48. The stock has a market capitalization of $6.06 billion, a P/E ratio of 21.88 and a beta of -0.31.
Orbital ATK (NYSE:OA) last released its quarterly earnings results on Thursday, August 3rd. The aerospace company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. Orbital ATK had a net margin of 6.11% and a return on equity of 15.62%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the business earned $1.35 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. Analysts forecast that Orbital ATK, Inc. will post $6.17 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Wednesday, September 6th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Friday, September 1st.
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A number of equities analysts have issued reports on OA shares. Zacks Investment Research cut shares of Orbital ATK from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Orbital ATK from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Cowen and Company restated a “buy” rating on shares of Orbital ATK in a research report on Thursday, May 11th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $106.00 price target on shares of Orbital ATK in a research report on Monday, June 5th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Orbital ATK in a research report on Friday, August 4th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $108.56.
In other Orbital ATK news, insider Frank L. Jr. Culbertson sold 2,002 shares of Orbital ATK stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $105.89, for a total transaction of $211,991.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David W. Thompson sold 5,000 shares of Orbital ATK stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $104.71, for a total transaction of $523,550.00. Following the sale, the insider now owns 97,939 shares of the company’s stock, valued at $10,255,192.69. The disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock valued at $1,744,411 over the last quarter. 1.20% of the stock is owned by company insiders.
About Orbital ATK
Orbital ATK, Inc is an aerospace and defense systems company and supplier of related products to the United States Government, allied nations, prime contractors and other customers. The Company’s segments include Flight Systems Group, Defense Systems Group, Space Systems Group and Corporate. Its products include launch vehicles and related propulsion systems; satellites and associated components and services; tactical missiles, subsystems and defense electronics, and precision weapons, armament systems and ammunition.
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