Summit Investment Advisors Inc. Sells 440 Shares of BWX Technologies, Inc. (NYSE:BWXT)

Summit Investment Advisors Inc. cut its holdings in BWX Technologies, Inc. (NYSE:BWXT) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,316 shares of the technology company’s stock after selling 440 shares during the period. Summit Investment Advisors Inc.’s holdings in BWX Technologies were worth $2,040,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Narwhal Capital Management increased its position in BWX Technologies by 33.4% in the 4th quarter. Narwhal Capital Management now owns 20,979 shares of the technology company’s stock worth $2,337,000 after buying an additional 5,250 shares during the period. Geode Capital Management LLC increased its position in BWX Technologies by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,682,563 shares of the technology company’s stock worth $182,938,000 after acquiring an additional 26,130 shares during the period. Cadinha & Co. LLC raised its stake in BWX Technologies by 469.2% during the 4th quarter. Cadinha & Co. LLC now owns 64,341 shares of the technology company’s stock valued at $7,167,000 after purchasing an additional 53,038 shares during the last quarter. Cooper Financial Group acquired a new position in BWX Technologies during the 4th quarter valued at $737,000. Finally, Strategic Planning Group LLC bought a new stake in BWX Technologies in the 4th quarter valued at $3,005,000. 94.39% of the stock is currently owned by institutional investors.

BWX Technologies Stock Up 0.7 %

Shares of NYSE BWXT opened at $103.96 on Tuesday. BWX Technologies, Inc. has a 52-week low of $84.21 and a 52-week high of $136.31. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.25 and a current ratio of 2.25. The business has a fifty day moving average of $102.15 and a two-hundred day moving average of $114.11. The stock has a market cap of $9.50 billion, a PE ratio of 34.42, a PEG ratio of 3.20 and a beta of 0.67.

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

BWX Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Tuesday, March 11th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.96%. This is a boost from BWX Technologies’s previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, March 11th. BWX Technologies’s dividend payout ratio (DPR) is currently 32.57%.

Insider Buying and Selling at BWX Technologies

In other news, CEO Rex D. Geveden sold 45,625 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $107.40, for a total transaction of $4,900,125.00. Following the transaction, the chief executive officer now directly owns 218,218 shares in the company, valued at approximately $23,436,613.20. This represents a 17.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ronald Owen Whitford, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 9,904 shares of the company’s stock, valued at approximately $1,039,127.68. This represents a 16.80 % decrease in their position. 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 insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of BWX Technologies from $90.00 to $105.00 and gave the stock an “underweight” rating in a report on Monday, December 16th. Truist Financial upped their price target on BWX Technologies from $106.00 to $114.00 and gave the company a “hold” rating in a report 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 report on Friday, January 10th. Seaport Res Ptn upgraded BWX Technologies to a “strong-buy” rating in a research note on Tuesday, April 1st. Finally, Bank of America decreased their price target on shares of BWX Technologies from $160.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BWX Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.38.

BWX Technologies 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.