Franklin Resources Inc. cut its holdings in shares of Cubic Corporation (NYSE:CUB) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,464,172 shares of the scientific and technical instruments company’s stock after selling 52,101 shares during the period. Franklin Resources Inc. owned approximately 5.40% of Cubic Corporation worth $67,792,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Kennedy Capital Management Inc. increased its position in shares of Cubic Corporation by 1.5% during the second quarter. Kennedy Capital Management Inc. now owns 117,104 shares of the scientific and technical instruments company’s stock worth $5,422,000 after acquiring an additional 1,728 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Cubic Corporation by 20.6% during the second quarter. JPMorgan Chase & Co. now owns 12,091 shares of the scientific and technical instruments company’s stock worth $560,000 after acquiring an additional 2,064 shares in the last quarter. Swiss National Bank increased its position in shares of Cubic Corporation by 13.2% during the second quarter. Swiss National Bank now owns 42,900 shares of the scientific and technical instruments company’s stock worth $1,986,000 after acquiring an additional 5,000 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Cubic Corporation by 34.1% during the second quarter. BNP Paribas Arbitrage SA now owns 10,247 shares of the scientific and technical instruments company’s stock worth $474,000 after acquiring an additional 2,607 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Cubic Corporation by 9.8% during the second quarter. Gamco Investors INC. ET AL now owns 15,200 shares of the scientific and technical instruments company’s stock worth $704,000 after acquiring an additional 1,360 shares in the last quarter. 88.76% of the stock is owned by institutional investors.

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Several research analysts recently weighed in on the stock. Canaccord Genuity cut their price target on shares of Cubic Corporation from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, August 4th. Zacks Investment Research cut shares of Cubic Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, August 7th. J P Morgan Chase & Co upgraded shares of Cubic Corporation from a “neutral” rating to an “overweight” rating and set a $53.00 price target on the stock in a report on Thursday, August 10th. BidaskClub upgraded shares of Cubic Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $48.00 price target (down from $52.00) on shares of Cubic Corporation in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $53.40.

Shares of Cubic Corporation (CUB) opened at 44.55 on Thursday. The stock has a 50 day moving average of $43.68 and a 200 day moving average of $47.66. The stock’s market capitalization is $1.21 billion. Cubic Corporation has a 52-week low of $39.50 and a 52-week high of $55.65.

Cubic Corporation (NYSE:CUB) last posted its quarterly earnings data on Thursday, August 3rd. The scientific and technical instruments company reported ($0.81) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.86). Cubic Corporation had a negative net margin of 2.20% and a negative return on equity of 4.74%. The firm had revenue of $361.87 million for the quarter, compared to the consensus estimate of $383.47 million. During the same quarter last year, the firm earned $0.17 EPS. The company’s revenue was down 3.6% on a year-over-year basis. Analysts forecast that Cubic Corporation will post ($0.58) earnings per share for the current year.

The business also recently announced a semiannual dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.135 per share. This represents a dividend yield of 0.62%. The ex-dividend date is Wednesday, August 30th. Cubic Corporation’s dividend payout ratio is currently -22.69%.

Cubic Corporation Profile

Cubic Corporation (Cubic) designs, integrates and operates systems, products and services that provide situational awareness for its customers in the transportation and defense industries. The Company operates in three business segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense (CGD) and Cubic Global Defense Services (CGD Services).

Institutional Ownership by Quarter for Cubic Corporation (NYSE:CUB)

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