Sentry Investment Management LLC grew its stake in shares of Textron Inc. (NYSE:TXT) by 20.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,221 shares of the aerospace company’s stock after acquiring an additional 3,559 shares during the period. Sentry Investment Management LLC’s holdings in Textron were worth $1,201,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in TXT. Neuberger Berman Group LLC grew its position in shares of Textron by 13.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 4,886,812 shares of the aerospace company’s stock valued at $263,302,000 after acquiring an additional 563,037 shares during the period. Cornerstone Capital Management Holdings LLC. grew its position in shares of Textron by 1,002.8% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 512,913 shares of the aerospace company’s stock valued at $27,634,000 after acquiring an additional 466,402 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Textron by 20.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,597,290 shares of the aerospace company’s stock valued at $146,981,000 after acquiring an additional 448,025 shares during the period. Impala Asset Management LLC bought a new position in shares of Textron during the 3rd quarter valued at approximately $21,215,000. Finally, Victory Capital Management Inc. grew its position in shares of Textron by 10.3% during the 3rd quarter. Victory Capital Management Inc. now owns 4,112,026 shares of the aerospace company’s stock valued at $221,557,000 after acquiring an additional 384,277 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.
Textron Inc. (NYSE TXT) opened at $57.55 on Wednesday. The company has a market cap of $15,159.84, a P/E ratio of 23.49, a P/E/G ratio of 1.81 and a beta of 1.45. Textron Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $62.19. The company has a quick ratio of 0.79, a current ratio of 1.92 and a debt-to-equity ratio of 0.54.
Textron (NYSE:TXT) last posted its earnings results on Wednesday, January 31st. The aerospace company reported $0.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.03). Textron had a return on equity of 11.58% and a net margin of 2.16%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the company earned $0.80 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. analysts predict that Textron Inc. will post 3.06 earnings per share for the current year.
Several research analysts recently commented on TXT shares. Jefferies Group reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Textron in a report on Sunday, February 4th. Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $67.00 price objective (up from $59.00) on shares of Textron in a report on Tuesday, January 16th. Finally, Cowen reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Textron in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Textron presently has a consensus rating of “Hold” and a consensus price target of $60.50.
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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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