Barings LLC maintained its position in shares of Textron Inc. (NYSE:TXT) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,157 shares of the aerospace company’s stock at the end of the first quarter. Barings LLC’s holdings in Textron were worth $483,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Global X Management Co. LLC raised its position in shares of Textron by 30.2% in the first quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock worth $125,000 after buying an additional 607 shares during the period. Financial Architects Inc acquired a new position in shares of Textron during the first quarter worth approximately $126,000. Koch Industries Inc. acquired a new position in shares of Textron during the first quarter worth approximately $203,000. Two Sigma Securities LLC acquired a new position in shares of Textron during the first quarter worth approximately $210,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Textron during the first quarter worth approximately $220,000. 82.68% of the stock is currently owned by institutional investors.
Shares of Textron Inc. (NYSE:TXT) opened at 48.06 on Monday. Textron Inc. has a 12 month low of $36.33 and a 12 month high of $50.93. The firm’s 50-day moving average price is $47.16 and its 200-day moving average price is $47.73. The firm has a market capitalization of $12.87 billion, a price-to-earnings ratio of 14.33 and a beta of 1.56.
Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, April 19th. The aerospace company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Textron had a return on equity of 12.53% and a net margin of 6.67%. Textron’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. On average, equities analysts anticipate that Textron Inc. will post $2.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Friday, June 9th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.08 annualized dividend and a yield of 0.17%. Textron’s dividend payout ratio (DPR) is presently 2.39%.
A number of brokerages have recently commented on TXT. Credit Suisse Group reissued a “buy” rating and set a $50.00 price target on shares of Textron in a report on Tuesday, April 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Textron in a report on Thursday, May 18th. Stephens initiated coverage on Textron in a report on Thursday, April 13th. They set an “equal weight” rating and a $54.00 target price on the stock. Cowen and Company reaffirmed an “outperform” rating and set a $60.00 target price on shares of Textron in a report on Saturday, April 22nd. Finally, BidaskClub lowered Textron from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $52.75.
Textron Company Profile
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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