Sciencast Management LP acquired a new stake in Textron (NYSE:TXT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,906 shares of the aerospace company’s stock, valued at approximately $347,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Aperio Group LLC boosted its position in shares of Textron by 0.8% in the fourth quarter. Aperio Group LLC now owns 112,996 shares of the aerospace company’s stock valued at $6,394,000 after acquiring an additional 911 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in Textron by 6.9% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,378 shares of the aerospace company’s stock valued at $813,000 after purchasing an additional 924 shares during the last quarter. Keybank National Association OH lifted its position in Textron by 3.8% during the fourth quarter. Keybank National Association OH now owns 29,168 shares of the aerospace company’s stock valued at $1,651,000 after purchasing an additional 1,065 shares during the last quarter. CIBC Asset Management Inc lifted its position in Textron by 4.3% during the fourth quarter. CIBC Asset Management Inc now owns 26,438 shares of the aerospace company’s stock valued at $1,496,000 after purchasing an additional 1,084 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its position in Textron by 18.6% during the fourth quarter. Penserra Capital Management LLC now owns 7,000 shares of the aerospace company’s stock valued at $396,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 83.26% of the company’s stock.
Several equities research analysts have issued reports on the stock. Cowen reiterated a “buy” rating and set a $70.00 target price on shares of Textron in a research report on Thursday, February 1st. Wells Fargo reiterated an “outperform” rating and set a $67.00 target price (up from $59.00) on shares of Textron in a research report on Tuesday, January 16th. Zacks Investment Research upgraded shares of Textron from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. Stephens set a $65.00 target price on shares of Textron and gave the company a “hold” rating in a research report on Thursday, January 11th. Finally, Jefferies Group reiterated a “buy” rating and set a $74.00 target price on shares of Textron in a research report on Sunday, February 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $61.36.
Shares of TXT stock traded down $1.71 during trading hours on Friday, hitting $57.87. 1,868,954 shares of the company’s stock were exchanged, compared to its average volume of 1,566,569. The company has a market capitalization of $15,148.75, a PE ratio of 23.62, a price-to-earnings-growth ratio of 1.82 and a beta of 1.36. Textron has a 12-month low of $45.00 and a 12-month high of $62.19. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.06 and a current ratio of 2.19.
Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, January 31st. The aerospace company reported $0.74 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.03). The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Textron had a return on equity of 11.58% and a net margin of 2.16%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $0.80 earnings per share. research analysts predict that Textron will post 3.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, April 1st. Shareholders of record on Friday, March 9th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Thursday, March 8th. Textron’s dividend payout ratio (DPR) is presently 3.27%.
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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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