Northrop Grumman Announces Orbital ATK Buyout for $9.2B

An Orbital ATK Antares rocket readies for launch to the International Space Station in this October 2016 file

An Orbital ATK Antares rocket readies for launch to the International Space Station in this October 2016 file

Of those insider trades, 9,064 shares of Orbital ATK, Inc. were purchased and 10,487 shares were sold.

The stock of Northrop Grumman Corporation (NYSE:NOC) hit a new 52-week high and has $289.12 target or 4.00 % above today's $278.00 share price. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. (NYSE:OA). EVP Frank L. Jr.

"The acquisition of Orbital ATK is an exciting strategic step as we continue to invest for profitable growth", Wes Bush, chief executive officer of Northrop Grumman, said. Moreover, too much dependence on fixed-price contracts remains a concern for the stock. Northrop Grumman will benefit from the acquisition of Orbital ATK. The shares were sold at an average price of $263.25, for a total value of $96,612.75. The firm earned "Hold" rating on Monday, July 24 by Jefferies. Orbital ATK has since redesigned the rocket and returned it safely to flight past year. 2,869,082 shares of the company's stock traded hands.

Shares of the company are trading at $132.25 a great deal higher than the 50 day moving average of $107.96 and well above the 200 day moving average of $101.47. The stock has a market cap of $7.63 billion, a PE ratio of 27.56 and a beta of -0.34. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.21 billion.

According to Orbital ATK, Inc. The company's quarterly revenue was up 2.9% on a year-over-year basis. This dividend represents a yield of $1.18 which is the dividend as a percentage of the current share price. When calculating in the EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at 292.10%.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. The firm has "Neutral" rating by Bank of America given on Friday, September 25. Bancorporation Of America Corporation De accumulated 1.94M shares or 0.1% of the stock.

WARNING: This news story was originally published by Equities Focus and is owned by of Equities Focus. If you are reading this piece on another website, it was stolen and reposted in violation of US & worldwide copyright and trademark law. The original version of this news story can be read at https://www.equitiesfocus.com/2017/09/19/orbital-atk-inc-oa-insider-sells-21678-00-in-stock.html. Stifel Nicolaus reaffirmed a "hold" rating and set a $255.00 price objective (up previously from $245.00) on shares of Northrop Grumman Corporation in a research report on Thursday, July 27th. The company was upgraded on Monday, August 14 by Argus Research. Northrop Grumman had 38 analyst reports since July 30, 2015 according to SRatingsIntel. ValuEngine upgraded Orbital ATK from a "hold" rating to a "buy" rating in a research note on Friday, September 1st. Goldman Sachs Group, Inc. 3 brokerages rating the stock a strong buy, 8 brokerages rating the stock a buy, 1 broker rating the stock a hold, 0 brokers rating the company a underperform, and finally zero analysts rating the company a sell with a 12-month price target of $100.37.

NOC's mean recommendation on Reuter's scale presents no change from 2.3 thirty days ago to 2.3 now, which indicates a hold consensus from the analyst community.

Several large investors have recently modified their holdings of NOC. Gilder Gagnon Howe & Co. LLC now owns 1,037 shares of the aerospace company's stock worth $102,000 after purchasing an additional 35 shares in the last quarter.

As of quarter end Gwm Advisors LLC had bought a total of 59 shares growing its position 3.6%. Ubs Group Ag now controls 482,630 shares valued at $47,471,000.

Short traders are feeling a little more bearish on shares of Orbital ATK, Inc.as inferred by the motion in short interest. Next Financial Group, Inc grew its ownership by buying 142 shares an increase of 9.6% from 03/31/2017 to 06/30/2017. Northrop Grumman Corporation now has a consensus rating of Buy and a consensus price target of $269.43. The EVP now owns $2,448,592 of the stock per an SEC filing yesterday. (OA), an aerospace and defense technologies company, for around $7.8 billion in cash, plus the assumption of $1.4 billion in net debt. The corporate marriage combined Orbital's satellite manufacturing, missile and launcher expertise with ATK's solid propulsion and composite structure heritage.

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