BB&T Corp cut its stake in Textron Inc. (NYSE:TXT) by 14.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 8,547 shares of the aerospace company’s stock after selling 1,402 shares during the period. BB&T Corp’s holdings in Textron were worth $403,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cleararc Capital Inc. raised its stake in Textron by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,098 shares of the aerospace company’s stock worth $290,000 after buying an additional 16 shares in the last quarter. YHB Investment Advisors Inc. raised its stake in Textron by 1.3% in the first quarter. YHB Investment Advisors Inc. now owns 7,398 shares of the aerospace company’s stock worth $345,000 after buying an additional 98 shares in the last quarter. Meadow Creek Investment Management LLC raised its stake in Textron by 2.2% in the first quarter. Meadow Creek Investment Management LLC now owns 5,840 shares of the aerospace company’s stock worth $278,000 after buying an additional 128 shares in the last quarter. Cadence Capital Management LLC raised 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 worth $378,000 after buying an additional 135 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of 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. 83.62% of the stock is currently owned by institutional investors.
Shares of Textron Inc. (NYSE TXT) opened at 47.69 on Friday. Textron Inc. has a 12-month low of $37.19 and a 12-month high of $50.93. The company has a 50-day moving average price of $48.76 and a 200 day moving average price of $47.71. The firm has a market capitalization of $12.62 billion, a PE ratio of 14.58 and a beta of 1.56.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be given a $0.02 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.17%. Textron’s dividend payout ratio is presently 2.45%.
Several brokerages have recently commented on TXT. Morgan Stanley increased their price objective on Textron from $45.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday. BidaskClub lowered Textron from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Wells Fargo & Company restated an “outperform” rating and issued a $54.00 target price (up previously from $52.00) on shares of Textron in a research note on Saturday, July 22nd. Jefferies Group LLC restated a “buy” rating and issued a $60.00 target price on shares of Textron in a research note on Thursday, May 18th. Finally, Bank of America Corporation downgraded Textron from a “buy” rating to an “underperform” rating and cut their price target for the stock from $53.00 to $45.00 in a research report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.00.
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.
What are top analysts saying about Textron Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Textron Inc. and related companies.