Precision Castparts Corp. Buyback
OLI recorded this information on 5/13/2015
Precision Castparts Corp.
The Board of Directors of Precision Castparts Corp. (NYSE:PCP) has approved a $2 billion expansion to the Company's existing share repurchase program, effective immediately and continuing through June 30, 2017. The Company plans to repurchase up to $2 billion of its common stock over the next 12 to 18 months as part of its comprehensive cash deployment strategy. The Company has a consistent track record of successfully redeploying its cash flow from operations through internal business investments, adding market-leading positions through acquisitions, as well as returning cash to shareholders by means of share repurchases.
Precision Castparts is a manufacturer of metal components and products, provides investment castings, forgings, fasteners/fastener systems and aerostructures for aerospace and power applications. Co. has three segments: Investment Cast Products, which manufactures investment castings for aircraft engines, industrial gas turbine (IGT) engines, airframes, medical implants, armament, and unmanned aerial vehicles, among others; Forged Products, which manufactures forged components for commercial and military aircraft engines and IGT; and Airframe Products, which develops and manufactures fasteners, fastener systems, aerostructures and precision components, primarily for aerospace applications.
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Hold (2.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data;
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