Strs Ohio lifted its holdings in Textron Inc. (NYSE:TXT) by 28.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,948 shares of the aerospace company’s stock after purchasing an additional 10,964 shares during the quarter. Strs Ohio’s holdings in Textron were worth $2,745,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of TXT. Pzena Investment Management LLC boosted its position in shares of Textron by 15.5% in the 4th quarter. Pzena Investment Management LLC now owns 7,811,119 shares of the aerospace company’s stock worth $377,511,000 after purchasing an additional 1,049,146 shares in the last quarter. SummerHaven Investment Management LLC acquired a new stake in shares of Textron in the 4th quarter worth $633,000. Rothschild & Co. Asset Management US Inc. boosted its position in shares of Textron by 103.2% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 1,141,388 shares of the aerospace company’s stock worth $55,163,000 after purchasing an additional 579,819 shares in the last quarter. U S Global Investors Inc. boosted its position in shares of Textron by 36.2% in the 4th quarter. U S Global Investors Inc. now owns 1,887,125 shares of the aerospace company’s stock worth $91,205,000 after purchasing an additional 501,537 shares in the last quarter. Finally, Cibc World Markets Corp boosted its position in shares of Textron by 180.6% in the 4th quarter. Cibc World Markets Corp now owns 254,173 shares of the aerospace company’s stock worth $12,284,000 after purchasing an additional 163,604 shares in the last quarter. 85.57% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE TXT opened at $65.56 on Tuesday. Textron Inc. has a 52-week low of $21.92 and a 52-week high of $65.86. The business’s 50 day moving average is $57.63 and its two-hundred day moving average is $49.17. The company has a quick ratio of 1.27, a current ratio of 2.33 and a debt-to-equity ratio of 0.67. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of 55.09, a PEG ratio of 6.44 and a beta of 1.77.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 11th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, June 10th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Textron’s payout ratio is currently 2.14%.
In related news, VP Mark S. Bamford sold 3,300 shares of the business’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $51.75, for a total transaction of $170,775.00. Also, Director Kathleen M. Bader sold 10,775 shares of the business’s stock in a transaction on Friday, April 30th. The stock was sold at an average price of $64.00, for a total transaction of $689,600.00. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
A number of equities analysts recently issued reports on the company. Morgan Stanley raised their target price on Textron from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Monday, February 8th. Credit Suisse Group raised their target price on Textron from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday. Robert W. Baird upgraded Textron from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $57.00 to $72.00 in a research note on Friday. Barclays upgraded Textron from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $52.00 to $68.00 in a research note on Wednesday, March 31st. Finally, Jefferies Financial Group lifted their price objective on Textron from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $60.30.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as offers maintenance, inspection, and repair services.
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