Wells Fargo & Company MN boosted its position in Textron Inc. (NYSE:TXT) by 13.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 719,955 shares of the aerospace company’s stock after purchasing an additional 86,370 shares during the period. Wells Fargo & Company MN owned about 0.27% of Textron worth $38,792,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in TXT. Intrust Bank NA lifted its position in shares of Textron by 0.6% during the 2nd quarter. Intrust Bank NA now owns 5,892 shares of the aerospace company’s stock valued at $277,000 after acquiring an additional 33 shares during the period. Veritable L.P. boosted its position in Textron by 0.3% during the 2nd quarter. Veritable L.P. now owns 12,868 shares of the aerospace company’s stock worth $606,000 after purchasing an additional 44 shares during the period. Canandaigua National Bank & Trust Co. boosted its position in Textron by 1.6% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 4,815 shares of the aerospace company’s stock worth $227,000 after purchasing an additional 75 shares during the period. Conning Inc. boosted its position in Textron by 1.7% during the 2nd quarter. Conning Inc. now owns 5,997 shares of the aerospace company’s stock worth $282,000 after purchasing an additional 100 shares during the period. Finally, Thrivent Financial For Lutherans boosted its position in Textron by 1.1% during the 2nd quarter. Thrivent Financial For Lutherans now owns 10,040 shares of the aerospace company’s stock worth $473,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 82.03% of the company’s stock.
Shares of Textron Inc. (NYSE:TXT) traded down $0.21 during trading on Tuesday, hitting $54.63. 1,016,800 shares of the stock were exchanged, compared to its average volume of 1,542,091. The firm has a market cap of $14,445.98, a price-to-earnings ratio of 21.85, a PEG ratio of 2.51 and a beta of 1.57. 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 Inc. has a 1-year low of $43.66 and a 1-year high of $56.47.
Textron (NYSE:TXT) last issued its earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.55 billion. Textron had a net margin of 4.48% and a return on equity of 12.02%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.61 EPS. equities analysts expect that Textron Inc. will post 2.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. Textron’s dividend payout ratio (DPR) is presently 3.45%.
A number of analysts recently weighed in on TXT shares. Zacks Investment Research cut shares of Textron from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. Drexel Hamilton raised shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Monday, September 11th. ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Cowen reaffirmed a “buy” rating and set a $60.00 price target on shares of Textron in a research report on Tuesday, November 14th. Finally, Credit Suisse Group decreased their price target on shares of Textron from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Friday, October 20th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.82.
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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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