LS Investment Advisors LLC Increases Holdings in Textron Inc. (NYSE:TXT)
LS Investment Advisors LLC raised its stake in shares of Textron Inc. (NYSE:TXT) by 4.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 7,802 shares of the aerospace company’s stock after buying an additional 330 shares during the quarter. LS Investment Advisors LLC’s holdings in Textron were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Tocqueville Asset Management L.P. raised its stake in Textron by 32.3% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 13,258 shares of the aerospace company’s stock valued at $649,000 after buying an additional 3,238 shares during the last quarter. Sciencast Management LP bought a new stake in shares of Textron during the 3rd quarter valued at $1,879,000. Oppenheimer Asset Management Inc. grew its position in shares of Textron by 23.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,805 shares of the aerospace company’s stock valued at $88,000 after acquiring an additional 345 shares during the period. Comerica Bank grew its position in shares of Textron by 11.6% during the 3rd quarter. Comerica Bank now owns 42,622 shares of the aerospace company’s stock valued at $1,993,000 after acquiring an additional 4,417 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Textron by 22.1% during the 3rd quarter. California Public Employees Retirement System now owns 584,490 shares of the aerospace company’s stock valued at $28,617,000 after acquiring an additional 105,771 shares during the period. Institutional investors and hedge funds own 82.98% of the company’s stock.
Several research analysts recently weighed in on the stock. ValuEngine raised shares of Textron from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Robert W. Baird dropped their target price on shares of Textron from $64.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Cowen reaffirmed a “buy” rating and issued a $60.00 target price on shares of Textron in a report on Thursday, October 17th. Morgan Stanley upped their target price on shares of Textron from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “strong sell” rating and set a $50.00 target price for the company. in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $54.25.
Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 17th. The aerospace company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.85 by $0.10. Textron had a net margin of 6.46% and a return on equity of 16.88%. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The business’s revenue was up 1.8% on a year-over-year basis. Analysts forecast that Textron Inc. will post 3.73 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, December 12th. Textron’s dividend payout ratio (DPR) is presently 2.40%.
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.
Featured Article: Benefits of owning preferred stock
Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXT).
Receive News & Ratings for Textron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron and related companies with MarketBeat.com's FREE daily email newsletter.