Franklin Resources Inc. cut its position in shares of KLX Inc. (NASDAQ:KLXI) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,564,398 shares of the aerospace company’s stock after selling 54,992 shares during the period. Franklin Resources Inc. owned about 8.82% of KLX worth $228,219,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KLXI. Zurcher Kantonalbank Zurich Cantonalbank raised its position in KLX by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,368 shares of the aerospace company’s stock valued at $118,000 after purchasing an additional 206 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in KLX during the 1st quarter valued at $119,000. Tyers Asset Management LLC raised its position in KLX by 9.1% during the 1st quarter. Tyers Asset Management LLC now owns 2,688 shares of the aerospace company’s stock valued at $120,000 after purchasing an additional 224 shares in the last quarter. Flinton Capital Management LLC raised its position in KLX by 9.1% during the 1st quarter. Flinton Capital Management LLC now owns 3,264 shares of the aerospace company’s stock valued at $146,000 after purchasing an additional 272 shares in the last quarter. Finally, Bank of Montreal Can raised its position in KLX by 1.4% during the 2nd quarter. Bank of Montreal Can now owns 3,168 shares of the aerospace company’s stock valued at $159,000 after purchasing an additional 43 shares in the last quarter.

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A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered KLX from a “hold” rating to a “sell” rating in a research report on Tuesday, August 29th. Cowen and Company reaffirmed an “outperform” rating and set a $55.00 target price (up from $52.00) on shares of KLX in a research report on Thursday, August 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 target price (down from $55.00) on shares of KLX in a research report on Thursday, August 24th. Finally, BidaskClub lowered KLX from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $55.17.

KLX Inc. (NASDAQ KLXI) opened at 46.64 on Friday. KLX Inc. has a one year low of $32.23 and a one year high of $54.40. The stock has a 50 day moving average price of $49.79 and a 200-day moving average price of $48.62. The stock has a market capitalization of $2.40 billion, a P/E ratio of 31.51 and a beta of 1.29.

KLX (NASDAQ:KLXI) last announced its quarterly earnings data on Wednesday, August 23rd. The aerospace company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. The business had revenue of $430.60 million for the quarter, compared to analysts’ expectations of $423.08 million. KLX had a return on equity of 4.43% and a net margin of 4.83%. KLX’s revenue was up 13.6% on a year-over-year basis. Analysts anticipate that KLX Inc. will post $3.07 earnings per share for the current year.

KLX Profile

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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Institutional Ownership by Quarter for KLX (NASDAQ:KLXI)

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