Rampart Investment Management Company LLC lifted its position in Textron Inc. (NYSE:TXT) by 38.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,140 shares of the aerospace company’s stock after buying an additional 2,276 shares during the quarter. Rampart Investment Management Company LLC’s holdings in Textron were worth $183,434,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of TXT. Raymond James Financial Services Advisors Inc. increased its holdings in Textron by 21.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 31,029 shares of the aerospace company’s stock worth $2,045,000 after purchasing an additional 5,455 shares during the period. Robeco Institutional Asset Management B.V. purchased a new stake in Textron during the 2nd quarter worth about $1,838,000. Nomura Asset Management Co. Ltd. increased its holdings in Textron by 3.0% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 42,056 shares of the aerospace company’s stock worth $2,772,000 after purchasing an additional 1,234 shares during the period. Toronto Dominion Bank increased its holdings in Textron by 17.0% during the 2nd quarter. Toronto Dominion Bank now owns 165,168 shares of the aerospace company’s stock worth $10,884,000 after purchasing an additional 23,946 shares during the period. Finally, Strs Ohio increased its holdings in Textron by 12.5% during the 2nd quarter. Strs Ohio now owns 188,599 shares of the aerospace company’s stock worth $12,430,000 after purchasing an additional 20,986 shares during the period. Institutional investors own 83.73% of the company’s stock.
Several brokerages have weighed in on TXT. Jefferies Financial Group set a $68.00 price target on Textron and gave the stock a “buy” rating in a report on Friday, November 30th. Zacks Investment Research downgraded Textron from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Morgan Stanley set a $71.00 price target on Textron and gave the stock a “hold” rating in a report on Thursday, October 11th. ValuEngine downgraded Textron from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Finally, Wells Fargo & Co cut their price target on Textron from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $72.73.
Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 18th. The aerospace company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.15). Textron had a net margin of 6.11% and a return on equity of 13.72%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The company’s revenue was down 8.2% compared to the same quarter last year. On average, research analysts expect that Textron Inc. will post 3.19 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be issued a $0.02 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. Textron’s payout ratio is currently 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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