American International Group Inc. cut its stake in shares of Kaman Co. (NYSE:KAMN) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,394 shares of the industrial products company’s stock after selling 204 shares during the period. American International Group Inc. owned approximately 0.07% of Kaman worth $943,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in shares of Kaman during the fourth quarter worth $366,000. Tompkins Financial Corp bought a new position in Kaman during the fourth quarter worth about $38,000. First Trust Advisors LP lifted its holdings in Kaman by 36.2% during the fourth quarter. First Trust Advisors LP now owns 30,232 shares of the industrial products company’s stock worth $1,727,000 after acquiring an additional 8,038 shares in the last quarter. Sei Investments Co. lifted its holdings in Kaman by 17.9% during the fourth quarter. Sei Investments Co. now owns 35,793 shares of the industrial products company’s stock worth $2,041,000 after acquiring an additional 5,444 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Kaman by 1.3% during the fourth quarter. Alliancebernstein L.P. now owns 40,382 shares of the industrial products company’s stock worth $2,307,000 after acquiring an additional 503 shares in the last quarter. 92.03% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research upgraded Kaman from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Thursday.
Kaman (NYSE:KAMN) last issued its quarterly earnings results on Tuesday, May 4th. The industrial products company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Kaman had a positive return on equity of 6.30% and a negative net margin of 8.29%. The company had revenue of $171.60 million for the quarter, compared to analyst estimates of $167.90 million. During the same period in the previous year, the company posted $0.48 earnings per share. The company’s quarterly revenue was down 17.2% compared to the same quarter last year. On average, analysts expect that Kaman Co. will post 1.84 earnings per share for the current fiscal year.
Kaman Corporation, together with its subsidiaries, operates in the aerospace, medical, and industrial markets. The company produces and markets aircraft bearings and components; super precision miniature ball bearings; spring energized seals, springs, and contacts; and metallic and composite aero structures for commercial, military, and general aviation fixed and rotary wing aircrafts.
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