Orbital ATK, Inc. (OA) Position Reduced by Advisors Asset Management Inc.
Advisors Asset Management Inc. decreased its stake in shares of Orbital ATK, Inc. (NYSE:OA) by 11.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,785 shares of the aerospace company’s stock after selling 4,292 shares during the period. Advisors Asset Management Inc. owned about 0.06% of Orbital ATK worth $3,225,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Wedbush Securities Inc. increased its stake in shares of Orbital ATK by 35.6% in the second quarter. Wedbush Securities Inc. now owns 5,622 shares of the aerospace company’s stock valued at $553,000 after buying an additional 1,476 shares during the period. Arizona State Retirement System increased its stake in shares of Orbital ATK by 1.7% in the second quarter. Arizona State Retirement System now owns 24,300 shares of the aerospace company’s stock valued at $2,390,000 after buying an additional 400 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Orbital ATK by 5.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 299,100 shares of the aerospace company’s stock valued at $29,420,000 after buying an additional 14,602 shares during the period. Retirement Systems of Alabama increased its stake in shares of Orbital ATK by 8.5% in the second quarter. Retirement Systems of Alabama now owns 163,689 shares of the aerospace company’s stock valued at $16,100,000 after buying an additional 12,804 shares during the period. Finally, JLB & Associates Inc. purchased a new stake in shares of Orbital ATK during the second quarter valued at about $262,000. 86.88% of the stock is currently owned by institutional investors.
Orbital ATK, Inc. (NYSE:OA) opened at 105.11 on Monday. Orbital ATK, Inc. has a 12-month low of $71.52 and a 12-month high of $110.55. The stock’s 50 day moving average is $103.46 and its 200 day moving average is $98.48. The stock has a market capitalization of $6.06 billion, a PE ratio of 21.88 and a beta of -0.31.
Orbital ATK (NYSE:OA) last issued its quarterly earnings data on Thursday, August 3rd. The aerospace company reported $1.56 EPS for the quarter, topping 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 analyst estimates of $1.12 billion. During the same period last year, the business posted $1.35 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts forecast that Orbital ATK, Inc. will post $6.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Wednesday, September 6th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, September 1st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.22%.
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Several brokerages have issued reports on OA. Argus raised shares of Orbital ATK from a “hold” rating to a “buy” rating and boosted their target price for the company from $106.58 to $120.00 in a research note on Monday, August 14th. They noted that the move was a valuation call. Stifel Nicolaus reissued a “buy” rating on shares of Orbital ATK in a research note on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating and set a $122.00 target price (up from $115.00) on shares of Orbital ATK in a research note on Friday, August 4th. BidaskClub downgraded shares of Orbital ATK from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research raised shares of Orbital ATK from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $108.56.
In related news, VP Thomas E. Mccabe sold 400 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $101.60, for a total transaction of $40,640.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frank L. Jr. Culbertson sold 2,002 shares of Orbital ATK stock in a transaction on Friday, August 4th. The shares were sold at an average price of $105.89, for a total transaction of $211,991.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,874 shares of company stock worth $1,744,411. 1.20% of the stock is currently 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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