PNC Financial Services Group Inc. lowered its position in KLX Inc (NASDAQ:KLXI) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 408,449 shares of the aerospace company’s stock after selling 17,728 shares during the quarter. PNC Financial Services Group Inc.’s holdings in KLX were worth $25,642,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Advisors Preferred LLC boosted its position in shares of KLX by 137.5% during the 2nd quarter. Advisors Preferred LLC now owns 1,489 shares of the aerospace company’s stock valued at $107,000 after acquiring an additional 862 shares during the last quarter. Mint Tower Capital Management B.V. bought a new stake in shares of KLX during the 2nd quarter valued at about $144,000. We Are One Seven LLC bought a new stake in shares of KLX during the 3rd quarter valued at about $208,000. Commonwealth Bank of Australia bought a new stake in shares of KLX during the 3rd quarter valued at about $213,000. Finally, Dupont Capital Management Corp bought a new stake in shares of KLX during the 2nd quarter valued at about $334,000. 90.07% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on KLXI. BidaskClub downgraded KLX from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. ValuEngine downgraded KLX from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $66.50.
KLX (NASDAQ:KLXI) last issued its quarterly earnings results on Tuesday, August 28th. The aerospace company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.23. The business had revenue of $527.20 million for the quarter, compared to the consensus estimate of $501.00 million. The business’s revenue was up 22.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS.
KLX Company Profile
KLX Inc, together with its subsidiaries, provides aerospace fasteners, consumables, and logistics services worldwide. The Aerospace Solutions Group segment distributes bolts, clips, hinges, rings, screws, carbon-faced seals, gaskets, O-rings, and others; chemicals, sealants and adhesives, lubricants, paints, cleaners, and degreasers; Honeywell proprietary parts; bearings, tooling, electrical components, and clamps; and hydraulics, pneumatics, fluid connectors, filtration, electrical control systems seals, and compressors and engineered systems.
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