Orbital ATK, Inc. (OA) Stake Boosted by Rovida Advisors Inc.
Rovida Advisors Inc. raised its position in Orbital ATK, Inc. (NYSE:OA) by 79.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 235,034 shares of the aerospace company’s stock after buying an additional 103,800 shares during the period. Orbital ATK comprises about 3.2% of Rovida Advisors Inc.’s portfolio, making the stock its 16th largest position. Rovida Advisors Inc. owned about 0.41% of Orbital ATK worth $23,118,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of OA. Bank of Montreal Can raised its position in Orbital ATK by 0.6% in the second quarter. Bank of Montreal Can now owns 2,651 shares of the aerospace company’s stock worth $261,000 after buying an additional 15 shares during the last quarter. World Asset Management Inc raised its position in Orbital ATK by 0.9% in the first quarter. World Asset Management Inc now owns 2,763 shares of the aerospace company’s stock worth $271,000 after buying an additional 26 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in Orbital ATK by 3.5% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,037 shares of the aerospace company’s stock worth $102,000 after buying an additional 35 shares during the last quarter. First Quadrant L P CA raised its position in Orbital ATK by 0.5% in the second quarter. First Quadrant L P CA now owns 12,061 shares of the aerospace company’s stock worth $1,186,000 after buying an additional 61 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in Orbital ATK by 2.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,613 shares of the aerospace company’s stock worth $256,000 after buying an additional 67 shares during the last quarter. 85.39% of the stock is currently owned by institutional investors and hedge funds.
Orbital ATK, Inc. (NYSE OA) opened at 108.93 on Wednesday. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 22.67 and a beta of -0.31. Orbital ATK, Inc. has a one year low of $71.52 and a one year high of $110.55. The firm has a 50-day moving average price of $104.27 and a 200-day moving average price of $99.16.
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 Zacks’ consensus estimate of $1.45 by $0.11. Orbital ATK had a return on equity of 15.62% and a net margin of 6.11%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the firm earned $1.35 EPS. Orbital ATK’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts expect that Orbital ATK, Inc. will post $6.17 EPS for the current 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 issued a $0.32 dividend. The ex-dividend date is Friday, September 1st. This represents a $1.28 dividend on an annualized basis and a yield of 1.18%.
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A number of research firms recently weighed in on OA. TheStreet raised Orbital ATK from a “c” rating to a “b” rating in a report on Monday. Zacks Investment Research lowered Orbital ATK from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th. Argus raised Orbital ATK from a “hold” rating to a “buy” rating and boosted their target price for the stock from $106.58 to $120.00 in a report on Monday, August 14th. They noted that the move was a valuation call. Cowen and Company reissued a “buy” rating on shares of Orbital ATK in a report on Thursday, May 11th. Finally, BidaskClub lowered Orbital ATK from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Orbital ATK currently has a consensus rating of “Buy” and an average price target of $108.56.
In related news, Director Harrison H. Schmitt sold 500 shares of the firm’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 of the company’s stock, valued at approximately $1,186,594.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Frank L. Jr. Culbertson sold 2,002 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $105.89, for a total value of $211,991.78. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,835 shares of company stock worth $1,232,751. 1.20% of the stock is owned by 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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