Aperio Group LLC boosted its position in Textron Inc. (NYSE:TXT) by 5.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,912 shares of the aerospace company’s stock after buying an additional 5,686 shares during the period. Aperio Group LLC’s holdings in Textron were worth $4,894,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TXT. Cleararc Capital Inc. increased its stake in shares of Textron by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,098 shares of the aerospace company’s stock valued at $290,000 after buying an additional 16 shares during the period. YHB Investment Advisors Inc. increased its stake in shares of Textron by 1.3% in the first quarter. YHB Investment Advisors Inc. now owns 7,398 shares of the aerospace company’s stock valued at $345,000 after buying an additional 98 shares during the period. Meadow Creek Investment Management LLC increased its stake in shares of Textron by 2.2% in the first quarter. Meadow Creek Investment Management LLC now owns 5,840 shares of the aerospace company’s stock valued at $278,000 after buying an additional 128 shares during the period. Cadence Capital Management LLC boosted its stake in Textron by 1.7% in the first quarter. Cadence Capital Management LLC now owns 7,952 shares of the aerospace company’s stock valued at $378,000 after buying an additional 135 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Textron by 3.3% in the first quarter. Pacer Advisors Inc. now owns 5,209 shares of the aerospace company’s stock valued at $248,000 after buying an additional 165 shares in the last quarter. 83.55% of the stock is currently owned by institutional investors.
Shares of Textron Inc. (NYSE:TXT) traded up 0.50% during mid-day trading on Friday, hitting $48.48. The stock had a trading volume of 966,039 shares. The stock has a market capitalization of $12.83 billion, a price-to-earnings ratio of 14.82 and a beta of 1.56. Textron Inc. has a 12-month low of $37.19 and a 12-month high of $50.93. The stock’s 50-day moving average price is $48.43 and its 200-day moving average price is $47.69.
Textron (NYSE:TXT) last announced its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.57 billion. Textron had a net margin of 6.45% and a return on equity of 11.97%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. On average, equities analysts anticipate that Textron Inc. will post $2.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Thursday, September 14th. Textron’s payout ratio is presently 2.45%.
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TXT has been the topic of several analyst reports. Credit Suisse Group restated a “buy” rating and issued a $50.00 target price on shares of Textron in a research report on Wednesday, May 24th. Jefferies Group LLC reiterated a “buy” rating and set a $60.00 price target on shares of Textron in a research report on Thursday, May 18th. Bank of America Corporation cut Textron from a “buy” rating to an “underperform” rating and lowered their price target for the company from $53.00 to $45.00 in a research report on Friday, July 21st. BidaskClub cut Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Stephens initiated coverage on Textron in a research report on Thursday, April 13th. They set an “equal weight” rating and a $54.00 price target on the stock. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $53.60.
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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