Legal & General Group Plc increased its holdings in shares of Orbital ATK, Inc. (NYSE:OA) by 9.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,399 shares of the aerospace company’s stock after acquiring an additional 5,633 shares during the period. Legal & General Group Plc owned approximately 0.11% of Orbital ATK worth $8,309,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in OA. LSV Asset Management grew its holdings in Orbital ATK by 5,651.1% in the second quarter. LSV Asset Management now owns 1,409,015 shares of the aerospace company’s stock valued at $138,590,000 after purchasing an additional 1,384,515 shares during the last quarter. Prudential Financial Inc. grew its holdings in Orbital ATK by 231.8% in the third quarter. Prudential Financial Inc. now owns 366,425 shares of the aerospace company’s stock valued at $48,793,000 after purchasing an additional 256,003 shares during the last quarter. Martingale Asset Management L P grew its holdings in Orbital ATK by 4,908.9% in the second quarter. Martingale Asset Management L P now owns 245,437 shares of the aerospace company’s stock valued at $24,143,000 after purchasing an additional 240,537 shares during the last quarter. Gabelli Funds LLC acquired a new stake in Orbital ATK in the third quarter valued at $21,473,000. Finally, P Schoenfeld Asset Management LP acquired a new stake in Orbital ATK in the third quarter valued at $17,990,000. 85.80% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on OA. Zacks Investment Research raised Orbital ATK from a “hold” rating to a “buy” rating and set a $148.00 target price on the stock in a report on Monday, November 27th. Cowen restated a “hold” rating and issued a $134.50 price objective on shares of Orbital ATK in a research report on Wednesday, November 22nd. Credit Suisse Group downgraded Orbital ATK from an “outperform” rating to a “neutral” rating in a research report on Wednesday, November 8th. Wells Fargo & Company downgraded Orbital ATK from an “outperform” rating to a “market perform” rating in a research report on Friday, October 6th. Finally, Jefferies Group downgraded Orbital ATK from a “buy” rating to a “hold” rating and upped their price objective for the company from $122.00 to $134.50 in a research report on Thursday, October 5th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $123.56.
Orbital ATK (NYSE:OA) last released its earnings results on Thursday, November 2nd. The aerospace company reported $1.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.19. Orbital ATK had a return on equity of 17.32% and a net margin of 6.62%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the business posted $1.15 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. sell-side analysts predict that Orbital ATK, Inc. will post 6.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Thursday, November 16th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, November 15th. This represents a $1.28 annualized dividend and a yield of 0.97%. Orbital ATK’s dividend payout ratio (DPR) is presently 23.79%.
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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