Franklin Resources Inc. lowered its position in KLX Inc (NASDAQ:KLXI) by 56.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,750,549 shares of the aerospace company’s stock after selling 2,236,726 shares during the quarter. Franklin Resources Inc. owned 3.48% of KLX worth $119,475,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Profund Advisors LLC lifted its position in shares of KLX by 10.9% in the 4th quarter. Profund Advisors LLC now owns 7,815 shares of the aerospace company’s stock worth $533,000 after acquiring an additional 767 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of KLX by 44.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,428 shares of the aerospace company’s stock worth $234,000 after acquiring an additional 1,060 shares during the period. Mutual of America Capital Management LLC lifted its position in shares of KLX by 2.6% in the 4th quarter. Mutual of America Capital Management LLC now owns 42,285 shares of the aerospace company’s stock worth $2,886,000 after acquiring an additional 1,084 shares during the period. First Trust Advisors LP lifted its position in shares of KLX by 4.8% in the 4th quarter. First Trust Advisors LP now owns 24,406 shares of the aerospace company’s stock worth $1,666,000 after acquiring an additional 1,112 shares during the period. Finally, Strs Ohio lifted its position in shares of KLX by 32.4% in the 4th quarter. Strs Ohio now owns 4,900 shares of the aerospace company’s stock worth $334,000 after acquiring an additional 1,200 shares during the period. Institutional investors own 98.42% of the company’s stock.
A number of brokerages have recently issued reports on KLXI. ValuEngine cut KLX from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub cut KLX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 7th. Zacks Investment Research raised KLX from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a report on Friday, February 23rd. Buckingham Research cut KLX from a “buy” rating to a “neutral” rating in a report on Tuesday, December 26th. Finally, SunTrust Banks reissued a “buy” rating and issued a $78.00 target price (up from $65.00) on shares of KLX in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $67.40.
KLX (NASDAQ:KLXI) last issued its earnings results on Tuesday, March 6th. The aerospace company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.19. KLX had a return on equity of 6.03% and a net margin of 3.07%. The business had revenue of $442.20 million during the quarter, compared to analysts’ expectations of $450.87 million. The firm’s revenue was up 18.4% on a year-over-year basis. research analysts predict that KLX Inc will post 3.99 earnings per share for the current year.
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KLX Inc (KLX) is the distributor and service provider of aerospace fasteners and consumables. The Company offers ranges of aerospace hardware and consumables and inventory management services across the world. The Company operates through two segments: Aerospace Solutions Group (ASG) and Energy Services Group (ESG).
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