Jennison Associates LLC Has $40.60 Million Position in BWX Technologies, Inc. (NYSE:BWXT)

Jennison Associates LLC cut its stake in shares of BWX Technologies, Inc. (NYSE:BWXT - Free Report) by 11.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 373,541 shares of the technology company's stock after selling 48,847 shares during the quarter. Jennison Associates LLC owned approximately 0.41% of BWX Technologies worth $40,604,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in BWX Technologies by 77.8% during the 2nd quarter. AQR Capital Management LLC now owns 132,263 shares of the technology company's stock worth $12,565,000 after purchasing an additional 57,879 shares during the last quarter. Bridges Investment Management Inc. grew its holdings in BWX Technologies by 76.3% during the 2nd quarter. Bridges Investment Management Inc. now owns 359,147 shares of the technology company's stock worth $34,119,000 after acquiring an additional 155,387 shares during the period. Compass Wealth Management LLC bought a new stake in shares of BWX Technologies during the 3rd quarter valued at $3,456,000. Vaughan Nelson Investment Management L.P. boosted its position in shares of BWX Technologies by 8.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 471,090 shares of the technology company's stock worth $51,208,000 after purchasing an additional 37,250 shares during the last quarter. Finally, Copeland Capital Management LLC grew its stake in shares of BWX Technologies by 0.8% during the third quarter. Copeland Capital Management LLC now owns 711,773 shares of the technology company's stock worth $77,370,000 after purchasing an additional 5,723 shares during the period. Institutional investors and hedge funds own 94.39% of the company's stock.

Analysts Set New Price Targets

BWXT has been the subject of several recent analyst reports. Alembic Global Advisors raised shares of BWX Technologies from a "neutral" rating to an "overweight" rating and set a $148.00 target price for the company in a research note on Tuesday, November 12th. Bank of America lifted their target price on BWX Technologies from $115.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Truist Financial raised their price target on BWX Technologies from $95.00 to $106.00 and gave the stock a "hold" rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on BWX Technologies from $129.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Finally, StockNews.com cut shares of BWX Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, BWX Technologies currently has an average rating of "Moderate Buy" and an average target price of $122.43.

BWX Technologies Stock Down 0.6 %

Shares of BWXT traded down $0.80 during mid-day trading on Friday, hitting $132.48. 546,925 shares of the company's stock were exchanged, compared to its average volume of 646,623. The company has a 50-day simple moving average of $117.14 and a 200 day simple moving average of $102.76. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.25 and a quick ratio of 2.25. The company has a market cap of $12.11 billion, a PE ratio of 44.18, a P/E/G ratio of 4.37 and a beta of 0.69. BWX Technologies, Inc. has a 52 week low of $74.69 and a 52 week high of $136.31.

BWX Technologies (NYSE:BWXT - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. The firm had revenue of $672.00 million for the quarter, compared to analysts' expectations of $658.84 million. BWX Technologies had a net margin of 10.32% and a return on equity of 31.95%. The company's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 EPS. On average, research analysts forecast that BWX Technologies, Inc. will post 3.23 earnings per share for the current fiscal year.

BWX Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 19th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Tuesday, November 19th. BWX Technologies's dividend payout ratio is 31.79%.

About BWX Technologies

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.