Aerospace giant buys rocket maker Orbital ATK, owner of Elkton site
- Author: Rogelio Becker Sep 21, 2017,
Sep 21, 2017, 0:25
Insiders sold a total of 3,002 shares of company stock valued at $316,492 in the last three months. Culbertson sold 2,002 shares of the firm's stock in a transaction dated Friday, August 4th. Culbertson, EVP sold $20,382 worth of shares at an average price of $101.91 on Monday the 17th. Orbital ATK has a 1-year low of $71.52 and a 1-year high of $133.39. (NYSE:OA) opened at 132.42 on Wednesday. The 50 day moving average was up by +21.68% and the 200 day average went up $30.67 or +30.15%.
Orbital ATK's current market capitalization is approximately $6.3 billion and the deal price is based on the company's value and assumption of long-term debts of the company. The stock of Orbital ATK Inc (NYSE:OA) has "Buy" rating given on Monday, September 18 by Cowen & Co. The company shares advanced 0.5% from their peak of $276.2 and now has a $48.16 billion market value of equity. As of Jul 2, 2017, Orbital ATK's total backlog was almost $15.4 billion (up 4% year over year), of which, firm backlog was $9.5 billion (up 10% year over year). The deal is projected to be concluded by the third quarter of 2018, depending on consents from Rockwell Collins' shareowners and other customary closing conditions, including the receipt of required regulatory approvals.
Sunrun Inc. (RUN) remained unsuccessful in beating the consensus-estimated $0.31 as it actually earned $0.23 per share in its last reported financial results.
Investors wait Orbital ATK Inc (NYSE:OA) to report on November, 2. its quarterly earnings This translates into $89.89M profit for OA giving the stock a 21.22 P/E. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.97%. Orbital ATK has contracts with NASA as well as the U.S. Army.
In other news, insider Frank L. Jr. That suggests something of the likelihood of a short squeeze in shares of OA.
ILLEGAL ACTIVITY WARNING: This story was originally posted by TrueBlueTribune and is the sole property of of TrueBlueTribune. Ltd. (ADR) (NYSE:XIN) has declined 11.43% since September 20, 2016 and is downtrending. Barclays Capital maintained Orbital ATK Inc (NYSE:OA) on Thursday, August 11 with "Overweight" rating. Stifel Nicolaus downgraded shares of Orbital ATK from a "buy" rating to a "hold" rating in a report on Tuesday. On September 19, 2017 the stock rating was changed to "Hold" according to a Argus report a cut from the previous " rating. Vetr downgraded the stock to "Buy" rating in Thursday, September 17 report. As per Monday, June 5, the company rating was reinitiated by Goldman Sachs. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. The stock has been active on the tape, now trading at $132.42, up from yesterday's close by 0.13%.
A number of institutional investors have recently added to or reduced their stakes in the business. World Asset Management Inc lifted its position in shares of Orbital ATK by 0.9% during the 1st quarter. BlackRock Inc. now owns 5,157,936 shares of the aerospace company's stock worth $507,335,000 after acquiring an additional 67,560 shares in the last quarter. Among active positions in the latest quarter, 349 holders increased their positions by a total of 9.95 million shares, 399 holders decreased the positions by a total of 7.56 million shares, and 199 holders held their positions. Pacer Advisors Inc. now owns 8,832 shares of the aerospace company's stock worth $869,000 after buying an additional 1,245 shares during the period.