IFM Investors Pty Ltd acquired a new stake in Textron Inc. (NYSE:TXT) during the third quarter, according to its most recent filing with the SEC. The firm acquired 9,294 shares of the aerospace company’s stock, valued at approximately $501,000.
Other large investors have also recently bought and sold shares of the company. Intrust Bank NA boosted 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 worth $277,000 after purchasing an additional 33 shares in the last quarter. Veritable L.P. boosted its position in shares of 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 in the last quarter. Canandaigua National Bank & Trust Co. boosted its position in shares of 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 in the last quarter. Conning Inc. boosted its position in shares of 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 in the last quarter. Finally, Thrivent Financial For Lutherans boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 82.03% of the company’s stock.
Several brokerages have commented on TXT. ValuEngine lowered shares of Textron from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Cowen restated a “buy” rating and set a $60.00 target price on shares of Textron in a research report on Thursday, October 19th. Stephens restated an “equal weight” rating and set a $63.00 target price (up from $54.00) on shares of Textron in a research report on Friday, October 13th. Drexel Hamilton upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Monday, September 11th. Finally, Morgan Stanley lifted their price target on Textron from $45.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday, August 17th. Four research 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 a consensus rating of “Hold” and an average price target of $57.82.
Textron Inc. (NYSE TXT) traded down $0.22 during trading hours on Friday, hitting $54.38. The stock had a trading volume of 823,900 shares, compared to its average volume of 1,534,505. The firm has a market cap of $14,388.02, a P/E ratio of 21.76, a PEG ratio of 2.50 and a beta of 1.57. The company has a quick ratio of 0.96, a current ratio of 2.08 and a debt-to-equity ratio of 0.67. Textron Inc. has a fifty-two week low of $43.66 and a fifty-two week high of $56.47.
Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 EPS. equities analysts forecast that Textron Inc. will post 2.47 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, December 14th. Textron’s payout ratio is 3.45%.
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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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