Kaman (KAMN) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Kaman (NYSE:KAMN) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.
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. “
Other research analysts have also recently issued reports about the stock. ValuEngine cut shares of Kaman from a buy rating to a hold rating in a report on Thursday, August 2nd. JPMorgan Chase & Co. initiated coverage on shares of Kaman in a report on Thursday, July 12th. They set a neutral rating and a $75.00 price target for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $72.00.
Kaman (NYSE:KAMN) last posted its quarterly earnings results on Wednesday, August 8th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.08). The firm had revenue of $468.13 million for the quarter, compared to analysts’ expectations of $471.75 million. Kaman had a return on equity of 11.70% and a net margin of 3.20%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.48 earnings per share. sell-side analysts predict that Kaman will post 3.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 4th. Shareholders of record on Tuesday, September 18th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.23%. Kaman’s dividend payout ratio (DPR) is presently 35.87%.
A number of institutional investors have recently modified their holdings of the business. United Services Automobile Association grew its position in shares of Kaman by 381.1% in the second quarter. United Services Automobile Association now owns 354,133 shares of the industrial products company’s stock valued at $28,805,000 after purchasing an additional 280,518 shares during the last quarter. BlackRock Inc. grew its position in shares of Kaman by 6.6% in the second quarter. BlackRock Inc. now owns 3,821,510 shares of the industrial products company’s stock valued at $266,322,000 after purchasing an additional 235,543 shares during the last quarter. Millennium Management LLC grew its position in shares of Kaman by 1,465.5% in the first quarter. Millennium Management LLC now owns 187,096 shares of the industrial products company’s stock valued at $11,622,000 after purchasing an additional 175,145 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of Kaman by 1,006.9% in the second quarter. WINTON GROUP Ltd now owns 156,072 shares of the industrial products company’s stock valued at $10,877,000 after purchasing an additional 141,972 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Kaman in the second quarter valued at approximately $6,162,000. 92.44% of the stock is owned by institutional investors.
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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