Kaman (NYSE:KAMN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Kaman Corporation is in the aerospace and industrial distribution markets. The company produces and/or markets widely used proprietary aircraft bearings and components; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; aerostructure engineering design analysis and FAA certification services; safe and arm solutions for missile and bomb systems for the U.S. and allied militaries; design and supply of aftermarket parts to MRO aerospace markets; K-MAX medium to heavy lift helicopters; and support for the company’s SH-2G Super Seasprite maritime helicopters and K-MAX aircraft. Additionally, Kaman provides engineering, design and support for automation, electrical, linear, hydraulic and pneumatic systems as well as belting and rubber fabrication, customized mechanical services, hose assemblies, repair, fluid analysis and motor management. “
A number of other research firms have also recently commented on KAMN. JPMorgan Chase & Co. began coverage on Kaman in a research note on Thursday, July 12th. They issued a “neutral” rating and a $75.00 price target for the company. ValuEngine cut Kaman from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Kaman currently has an average rating of “Hold” and an average price target of $72.00.
Kaman stock opened at $66.86 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.89 and a quick ratio of 1.74. Kaman has a one year low of $47.66 and a one year high of $75.08. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 29.98 and a beta of 0.78.
Kaman (NYSE:KAMN) last released its quarterly earnings results on Wednesday, August 8th. The industrial products company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.08). Kaman had a net margin of 3.20% and a return on equity of 11.70%. The business had revenue of $468.13 million during the quarter, compared to analysts’ expectations of $471.75 million. During the same quarter last year, the business posted $0.48 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. equities analysts predict that Kaman will post 3.08 earnings per share for the current year.
In other news, Director Richard J. Swift sold 2,500 shares of the stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $72.00, for a total value of $180,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Philip A. Goodrich sold 5,000 shares of the stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $72.37, for a total value of $361,850.00. Following the completion of the transaction, the senior vice president now directly owns 13,259 shares in the company, valued at $959,553.83. The disclosure for this sale can be found here. 2.38% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. increased its holdings in shares of Kaman by 2.2% in the first quarter. Prudential Financial Inc. now owns 47,180 shares of the industrial products company’s stock valued at $2,931,000 after purchasing an additional 1,030 shares during the period. Swiss National Bank increased its holdings in shares of Kaman by 2.7% in the first quarter. Swiss National Bank now owns 41,400 shares of the industrial products company’s stock valued at $2,572,000 after purchasing an additional 1,100 shares during the period. SG Americas Securities LLC increased its holdings in shares of Kaman by 52.8% in the first quarter. SG Americas Securities LLC now owns 3,232 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 1,117 shares during the period. Sei Investments Co. increased its holdings in shares of Kaman by 66.9% in the first quarter. Sei Investments Co. now owns 3,232 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 1,296 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Kaman by 8.1% in the first quarter. Thrivent Financial for Lutherans now owns 18,694 shares of the industrial products company’s stock valued at $1,161,000 after purchasing an additional 1,403 shares during the period. 91.09% of the stock is currently owned by institutional investors and hedge funds.
Kaman Company Profile
Kaman Corporation operates in the aerospace and distribution markets. It operates through two segments, Distribution and Aerospace. The Distribution segment distributes electro-mechanical products; bearings; and power transmission, motion control, and electrical and fluid power components, as well as offers value-added services.
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