Bank of New York Mellon Corp Increases Stake in Orbital ATK, Inc. (OA)
Bank of New York Mellon Corp raised its position in Orbital ATK, Inc. (NYSE:OA) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 694,999 shares of the aerospace company’s stock after buying an additional 3,770 shares during the period. Bank of New York Mellon Corp owned approximately 1.20% of Orbital ATK worth $68,362,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in OA. BlackRock Inc. raised its stake in 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 period. Airain ltd acquired a new stake in Orbital ATK during the first quarter worth $1,176,000. Geode Capital Management LLC raised its stake in Orbital ATK by 5.0% in the first quarter. Geode Capital Management LLC now owns 448,256 shares of the aerospace company’s stock worth $43,929,000 after buying an additional 21,486 shares during the period. CENTRAL TRUST Co raised its stake in Orbital ATK by 9.6% in the second quarter. CENTRAL TRUST Co now owns 1,143 shares of the aerospace company’s stock worth $112,000 after buying an additional 100 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Orbital ATK by 11.6% in the first quarter. Victory Capital Management Inc. now owns 9,058 shares of the aerospace company’s stock worth $888,000 after buying an additional 944 shares during the period. 85.39% of the stock is owned by institutional investors.
Shares of Orbital ATK, Inc. (NYSE OA) opened at 110.80 on Thursday. The firm’s 50 day moving average is $104.27 and its 200 day moving average is $99.16. Orbital ATK, Inc. has a 52-week low of $71.52 and a 52-week high of $110.87. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 23.06 and a beta of -0.31.
Orbital ATK (NYSE:OA) last announced its earnings results on Thursday, August 3rd. The aerospace company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.45 by $0.11. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.12 billion. Orbital ATK had a return on equity of 15.62% and a net margin of 6.11%. Orbital ATK’s revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.35 EPS. Equities analysts expect that Orbital ATK, Inc. will post $6.17 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Wednesday, September 6th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, September 1st.
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OA has been the subject of a number of research reports. Zacks Investment Research raised shares of Orbital ATK from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $122.00 price objective (up from $115.00) on shares of Orbital ATK in a research note on Friday, August 4th. BidaskClub raised shares of Orbital ATK from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Orbital ATK in a research note on Friday, August 4th. Finally, TheStreet raised shares of Orbital ATK from a “c” rating to a “b” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Orbital ATK has a consensus rating of “Buy” and an average target price of $108.56.
In other Orbital ATK news, insider David W. Thompson sold 5,000 shares of the company’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $104.71, for a total transaction of $523,550.00. Following the transaction, the insider now owns 97,939 shares of the company’s stock, valued at approximately $10,255,192.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Harrison H. Schmitt sold 500 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $99.28, for a total value of $49,640.00. Following the transaction, the director now directly owns 11,952 shares in the company, valued at approximately $1,186,594.56. The disclosure for this sale can be found here. Insiders sold a total of 8,302 shares of company stock worth $868,004 over the last three months. 1.20% of the stock is owned by company insiders.
Orbital ATK Company Profile
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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