Victory Capital Management Inc. raised its holdings in shares of Textron Inc. (NYSE:TXT) by 10.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,112,026 shares of the aerospace company’s stock after acquiring an additional 384,277 shares during the quarter. Textron makes up 0.5% of Victory Capital Management Inc.’s investment portfolio, making the stock its 17th largest holding. Victory Capital Management Inc. owned 1.55% of Textron worth $221,557,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Textron by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 24,931,208 shares of the aerospace company’s stock valued at $1,174,260,000 after acquiring an additional 393,214 shares in the last quarter. Capital Research Global Investors grew its stake in Textron by 2.1% during the 2nd quarter. Capital Research Global Investors now owns 18,615,303 shares of the aerospace company’s stock valued at $876,781,000 after acquiring an additional 378,902 shares in the last quarter. BlackRock Inc. grew its stake in Textron by 3.8% during the 2nd quarter. BlackRock Inc. now owns 17,799,799 shares of the aerospace company’s stock valued at $838,370,000 after acquiring an additional 655,034 shares in the last quarter. American Century Companies Inc. grew its stake in Textron by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 5,457,637 shares of the aerospace company’s stock valued at $257,055,000 after acquiring an additional 252,903 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in Textron by 28.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 4,323,775 shares of the aerospace company’s stock valued at $203,650,000 after acquiring an additional 957,464 shares in the last quarter. 81.32% of the stock is currently owned by institutional investors.
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Several research firms have weighed in on TXT. BidaskClub raised Textron from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. ValuEngine cut Textron from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Cowen and Company reaffirmed a “buy” rating and set a $60.00 target price on shares of Textron in a research note on Thursday, October 19th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $54.00 target price (up previously from $52.00) on shares of Textron in a research note on Saturday, July 22nd. Finally, Zacks Investment Research raised Textron from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.92.
Shares of Textron Inc. (NYSE:TXT) traded up 0.42% during midday trading on Tuesday, hitting $52.82. The stock had a trading volume of 495,099 shares. The company has a market capitalization of $13.98 billion, a PE ratio of 16.15 and a beta of 1.59. The firm’s 50-day moving average is $53.48 and its 200 day moving average is $49.28. Textron Inc. has a one year low of $38.79 and a one year high of $55.80.
Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. Textron had a return on equity of 12.02% and a net margin of 4.48%. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts expect that Textron Inc. will post $2.48 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. Textron’s payout ratio is presently 3.45%.
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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