Flinton Capital Management LLC lifted its position in shares of Textron (NYSE:TXT) by 108.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,820 shares of the aerospace company’s stock after acquiring an additional 12,886 shares during the quarter. Flinton Capital Management LLC’s holdings in Textron were worth $1,404,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in Textron by 0.6% in the 3rd quarter. Rhumbline Advisers now owns 416,185 shares of the aerospace company’s stock valued at $22,424,000 after buying an additional 2,391 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Textron by 0.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,604,911 shares of the aerospace company’s stock valued at $194,233,000 after buying an additional 32,525 shares in the last quarter. MRJ Capital Inc. lifted its stake in Textron by 7.6% in the 3rd quarter. MRJ Capital Inc. now owns 82,000 shares of the aerospace company’s stock valued at $4,418,000 after buying an additional 5,800 shares in the last quarter. Impala Asset Management LLC purchased a new position in Textron in the 3rd quarter valued at about $21,215,000. Finally, Parametric Portfolio Associates LLC lifted its stake in Textron by 20.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 575,945 shares of the aerospace company’s stock valued at $31,032,000 after buying an additional 99,183 shares in the last quarter. 83.26% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on TXT. Barclays began coverage on shares of Textron in a research note on Thursday, March 29th. They issued an “overweight” rating and a $70.00 price target on the stock. ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Jefferies Group reaffirmed a “buy” rating and issued a $74.00 price target on shares of Textron in a research note on Sunday, February 4th. Cowen reaffirmed a “buy” rating and issued a $70.00 price target on shares of Textron in a research note on Thursday, February 1st. Finally, Morgan Stanley upgraded shares of Textron from an “underweight” rating to an “equal weight” rating and set a $47.00 price objective for the company in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Textron currently has a consensus rating of “Hold” and an average price target of $61.36.
TXT stock traded down $1.71 during mid-day trading on Friday, reaching $57.87. The company’s stock had a trading volume of 1,868,954 shares, compared to its average volume of 1,566,569. The company has a market cap of $15,148.75, a price-to-earnings ratio of 23.62, a PEG ratio of 1.82 and a beta of 1.36. The company has a current ratio of 2.19, a quick ratio of 1.06 and a debt-to-equity ratio of 0.69. Textron has a fifty-two week low of $45.00 and a fifty-two week high of $62.19.
Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 31st. The aerospace company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.03). The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.06 billion. Textron had a return on equity of 11.58% and a net margin of 2.16%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 EPS. equities analysts forecast that Textron will post 3.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Sunday, April 1st. Stockholders of record on Friday, March 9th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, March 8th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. Textron’s dividend payout ratio is currently 3.27%.
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Textron Company Profile
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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