Rhumbline Advisers increased its holdings in Textron Inc. (NYSE:TXT) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 416,185 shares of the aerospace company’s stock after acquiring an additional 2,391 shares during the period. Rhumbline Advisers owned approximately 0.16% of Textron worth $22,424,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of TXT. Fox Run Management L.L.C. purchased a new position in shares of Textron during the second quarter worth $245,000. Creative Planning boosted its position in shares of Textron by 9.6% during the second quarter. Creative Planning now owns 13,137 shares of the aerospace company’s stock worth $619,000 after buying an additional 1,154 shares during the period. LS Investment Advisors LLC boosted its position in shares of Textron by 5.8% during the second quarter. LS Investment Advisors LLC now owns 11,556 shares of the aerospace company’s stock worth $544,000 after buying an additional 636 shares during the period. Aperio Group LLC boosted its position in shares of Textron by 5.8% during the second quarter. Aperio Group LLC now owns 103,912 shares of the aerospace company’s stock worth $4,894,000 after buying an additional 5,686 shares during the period. Finally, Oakbrook Investments LLC boosted its position in shares of Textron by 5.7% during the second quarter. Oakbrook Investments LLC now owns 22,400 shares of the aerospace company’s stock worth $1,055,000 after buying an additional 1,200 shares during the period. Institutional investors own 81.83% of the company’s stock.
Several brokerages have recently issued reports on TXT. Zacks Investment Research cut Textron from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. ValuEngine raised Textron from a “hold” rating to a “buy” rating in a report on Friday, September 8th. BidaskClub lowered Textron from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Drexel Hamilton raised Textron from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Monday, September 11th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Textron in a report on Tuesday, September 26th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $56.92.
Shares of Textron Inc. (TXT) opened at $52.97 on Monday. The firm has a market cap of $13,950.00, a P/E ratio of 21.10, a P/E/G ratio of 2.43 and a beta of 1.57. Textron Inc. has a 1-year low of $43.66 and a 1-year high of $55.80. The company has a current ratio of 2.08, a quick ratio of 0.96 and a debt-to-equity ratio of 0.67.
Textron (NYSE:TXT) last issued its earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Textron had a net margin of 4.48% and a return on equity of 12.02%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. equities research analysts predict that Textron Inc. will post 2.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be given a $0.02 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. Textron’s dividend payout ratio (DPR) is presently 3.45%.
Textron Company Profile
Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.
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