Vanguard Group Inc. boosted its position in Textron Inc. (NYSE:TXT) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,450,350 shares of the company’s stock after buying an additional 228,678 shares during the period. Vanguard Group Inc. owned approximately 8.33% of Textron worth $820,785,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of 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 period. Chevy Chase Trust Holdings Inc. increased its stake in shares of 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 during the period. OLD National Bancorp IN increased its stake in shares of Textron by 4.2% in the first quarter. OLD National Bancorp IN now owns 8,169 shares of the company’s stock worth $298,000 after buying an additional 331 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Textron by 4.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,242,145 shares of the company’s stock worth $264,049,000 after buying an additional 312,668 shares during the period. Finally, BlackRock Group LTD increased its stake in shares of 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 during the period. 80.63% of the stock is currently owned by hedge funds and other institutional investors.
Textron Inc. (NYSE:TXT) traded up 0.61% during midday trading on Tuesday, reaching $39.44. 70,243 shares of the company traded hands. Textron Inc. has a 12 month low of $30.69 and a 12 month high of $43.93. The firm has a market capitalization of $10.63 billion, a PE ratio of 14.88 and a beta of 1.44. The company’s 50-day moving average price is $40.09 and its 200 day moving average price is $38.37.
Textron (NYSE:TXT) last posted its quarterly earnings data 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. Textron had a net margin of 5.28% and a return on equity of 14.72%. The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the firm posted $0.60 EPS. Textron’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts anticipate that Textron Inc. will post $2.72 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be given a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.08 dividend on an annualized basis and a yield of 0.20%. Textron’s dividend payout ratio (DPR) is 3.02%.
TXT has been the topic of a number of recent analyst reports. Drexel Hamilton reissued a “hold” rating on shares of Textron in a report on Wednesday, August 31st. Credit Suisse Group AG reissued a “buy” rating on shares of Textron in a report on Wednesday, August 31st. Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Morgan Stanley restated a “sell” rating on shares of Textron in a research report on Monday, August 15th. Finally, Bank of America Corp. set a $45.00 price objective on shares of Textron and gave the stock a “buy” rating in a research report on Monday, July 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Textron presently has an average rating of “Buy” and an average target price of $46.62.
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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