Bank of America Cuts BWX Technologies (NYSE:BWXT) Price Target to $135.00

BWX Technologies (NYSE:BWXT) had its target price trimmed by Bank of America from $160.00 to $135.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research analysts have also issued reports on BWXT. Truist Financial raised their target price on shares of BWX Technologies from $106.00 to $114.00 and gave the company a “hold” rating in a research note on Tuesday, January 14th. Maxim Group lifted their price objective on BWX Technologies from $138.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Barclays boosted their price objective on BWX Technologies from $90.00 to $105.00 and gave the stock an “underweight” rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $124.38.

BWX Technologies Price Performance

Shares of NYSE:BWXT opened at $99.24 on Wednesday. The stock has a market capitalization of $9.07 billion, a P/E ratio of 32.86, a P/E/G ratio of 3.20 and a beta of 0.69. The business has a 50-day moving average of $107.26 and a two-hundred day moving average of $114.28. BWX Technologies has a fifty-two week low of $86.70 and a fifty-two week high of $136.31. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.25 and a quick ratio of 2.25.

BWX Technologies (NYSE:BWXT) last posted its earnings results on Monday, February 24th. The technology company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.12. BWX Technologies had a return on equity of 31.95% and a net margin of 10.32%. The firm had revenue of $746.27 million during the quarter, compared to analyst estimates of $653.16 million. On average, equities research analysts predict that BWX Technologies will post 3.23 EPS for the current fiscal year.

BWX Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.01%. This is a positive change from BWX Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, March 11th. BWX Technologies’s payout ratio is currently 32.57%.

Insiders Place Their Bets

In other news, SVP Ronald Owen Whitford, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $104.92, for a total transaction of $209,840.00. Following the completion of the transaction, the senior vice president now directly owns 9,904 shares of the company’s stock, valued at approximately $1,039,127.68. This trade represents a 16.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert L. Duffy sold 6,000 shares of BWX Technologies stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $104.03, for a total transaction of $624,180.00. Following the sale, the senior vice president now owns 3,206 shares in the company, valued at approximately $333,520.18. This trade represents a 65.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,625 shares of company stock worth $5,734,145. 0.47% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BWX Technologies

A number of hedge funds have recently modified their holdings of BWXT. Stone House Investment Management LLC lifted its holdings in BWX Technologies by 76.2% during the 3rd quarter. Stone House Investment Management LLC now owns 229 shares of the technology company’s stock valued at $25,000 after purchasing an additional 99 shares during the last quarter. Quarry LP increased its holdings in shares of BWX Technologies by 93.6% during the third quarter. Quarry LP now owns 271 shares of the technology company’s stock worth $29,000 after buying an additional 131 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of BWX Technologies in the fourth quarter valued at approximately $30,000. HHM Wealth Advisors LLC boosted its holdings in shares of BWX Technologies by 45.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 290 shares of the technology company’s stock worth $32,000 after acquiring an additional 90 shares in the last quarter. Finally, Ameriflex Group Inc. bought a new stake in BWX Technologies during the 4th quarter worth approximately $34,000. 94.39% of the stock is owned by institutional investors and hedge funds.

BWX Technologies Company Profile

BWX Technologies, Inc, together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments, Government Operations and Commercial Operations. The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; fabrication activities; and supplies proprietary and sole-source valves, manifolds, and fittings to naval and commercial shipping customers.