LSV Asset Management Has $59.92 Million Stake in Textron Inc. (TXT)
LSV Asset Management grew its stake in Textron Inc. (NYSE:TXT) by 0.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 838,456 shares of the aerospace company’s stock after purchasing an additional 4,015 shares during the quarter. LSV Asset Management owned about 0.35% of Textron worth $59,924,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Centaurus Financial Inc. acquired a new stake in Textron during the 2nd quarter worth $105,000. BlueMountain Capital Management LLC acquired a new stake in Textron during the 2nd quarter worth $139,000. First Hawaiian Bank acquired a new stake in Textron during the 3rd quarter worth $140,000. Willingdon Wealth Management acquired a new stake in Textron during the 3rd quarter worth $157,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Textron during the 3rd quarter worth $191,000. 84.59% of the stock is currently owned by institutional investors.
TXT has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Textron from $74.00 to $77.00 and gave the stock a “$66.52” rating in a research note on Monday, July 23rd. Bank of America set a $78.00 price objective on Textron and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Zacks Investment Research downgraded Textron from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Jefferies Financial Group raised their price objective on Textron to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Finally, Morgan Stanley set a $71.00 price objective on Textron and gave the stock a “hold” rating in a research note on Thursday, October 11th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $74.00.
Textron (NYSE:TXT) last released its earnings results on Thursday, October 18th. The aerospace company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.15). The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.52 billion. Textron had a return on equity of 13.72% and a net margin of 6.11%. Textron’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter last year, the company posted $0.65 EPS. As a group, sell-side analysts forecast that Textron Inc. will post 3.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, December 13th. Textron’s dividend payout ratio (DPR) is presently 3.27%.
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Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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