Concert Wealth Management Inc. raised its position in Textron Inc. (NYSE:TXT) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,561 shares of the company’s stock after buying an additional 4 shares during the period. Concert Wealth Management Inc.’s holdings in Textron were worth $203,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in Textron by 1.4% in the first quarter. Geode Capital Management LLC now owns 2,250,485 shares of the company’s stock worth $81,888,000 after buying an additional 31,559 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its stake in Textron by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 229,652 shares of the company’s stock worth $8,397,000 after buying an additional 842 shares in the last quarter. BlackRock Group LTD raised its stake in Textron by 3.2% in the first quarter. BlackRock Group LTD now owns 1,649,411 shares of the company’s stock worth $60,138,000 after buying an additional 51,476 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Textron during the second quarter worth about $303,000. Finally, Bank of Montreal Can purchased a new stake in Textron during the second quarter worth about $9,002,000. Institutional investors and hedge funds own 80.61% of the company’s stock.
Textron Inc. (NYSE:TXT) traded up 0.13% during mid-day trading on Monday, hitting $37.82. 628,937 shares of the company traded hands. The stock has a market capitalization of $10.19 billion, a price-to-earnings ratio of 14.27 and a beta of 1.65. Textron Inc. has a one year low of $30.69 and a one year high of $43.93. The company’s 50-day moving average is $39.66 and its 200-day moving average is $38.67.
Textron (NYSE:TXT) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.36 billion. Textron had a net margin of 5.28% and a return on equity of 14.72%. Textron’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. Analysts predict that Textron Inc. will post $2.73 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were given a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.21%. Textron’s dividend payout ratio is 3.02%.
A number of equities research analysts have recently issued reports on the stock. Credit Suisse Group AG restated a “buy” rating on shares of Textron in a report on Saturday, July 9th. Drexel Hamilton restated a “hold” rating on shares of Textron in a report on Wednesday, August 31st. Zacks Investment Research lowered shares of Textron from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Jefferies Group set a $50.00 price target on shares of Textron and gave the company a “buy” rating in a report on Thursday, October 6th. Finally, Robert W. Baird started coverage on shares of Textron in a report on Wednesday, October 5th. They set an “outperform” rating and a $48.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $46.74.
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. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.
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