Airain ltd Acquires New Position in Textron Inc. (TXT)
Airain ltd acquired a new stake in Textron Inc. (NYSE:TXT) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 55,382 shares of the aerospace company’s stock, valued at approximately $2,608,000.
Several other institutional investors have also modified their holdings of TXT. American Century Companies Inc. boosted its position in shares of Textron by 8.7% in the first quarter. American Century Companies Inc. now owns 5,204,734 shares of the aerospace company’s stock valued at $247,693,000 after buying an additional 415,861 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Textron by 12.6% in the first quarter. Advisors Asset Management Inc. now owns 42,705 shares of the aerospace company’s stock valued at $2,032,000 after buying an additional 4,771 shares during the period. First Trust Advisors LP boosted its position in shares of Textron by 12.5% in the first quarter. First Trust Advisors LP now owns 825,759 shares of the aerospace company’s stock valued at $39,298,000 after buying an additional 91,550 shares during the period. Tyers Asset Management LLC boosted its position in shares of Textron by 2.2% in the first quarter. Tyers Asset Management LLC now owns 10,220 shares of the aerospace company’s stock valued at $486,000 after buying an additional 224 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its position in shares of Textron by 48.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 7,778 shares of the aerospace company’s stock valued at $370,000 after buying an additional 2,548 shares during the period. Hedge funds and other institutional investors own 81.50% of the company’s stock.
Shares of Textron Inc. (TXT) opened at 48.16 on Wednesday. Textron Inc. has a 1-year low of $37.19 and a 1-year high of $50.93. The firm’s 50-day moving average is $48.78 and its 200-day moving average is $47.72. The company has a market cap of $12.75 billion, a PE ratio of 14.72 and a beta of 1.56.
Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. Textron had a return on equity of 11.97% and a net margin of 6.45%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the business earned $0.66 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that Textron Inc. will post $2.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.17%. Textron’s dividend payout ratio (DPR) is presently 2.45%.
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Several brokerages have recently weighed in on TXT. Zacks Investment Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, July 18th. BidaskClub cut shares of Textron from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Morgan Stanley increased their price objective on shares of Textron from $45.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday, August 17th. Credit Suisse Group reiterated an “outperform” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Textron in a research note on Thursday, July 20th. Finally, Bank of America Corporation cut shares of Textron from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $53.00 to $45.00 in a research note on Friday, July 21st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $53.00.
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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