Westpac Banking Corp increased its position in shares of Textron Inc. (NYSE:TXT) by 7.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,050 shares of the company’s stock after buying an additional 4,455 shares during the period. Westpac Banking Corp’s holdings in Textron were worth $1,761,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Textron by 1.0% in the second quarter. Vanguard Group Inc. now owns 22,450,350 shares of the company’s stock worth $820,785,000 after buying an additional 228,678 shares during the period. State Street Corp raised its stake in shares of Textron by 1.4% in the first quarter. State Street Corp now owns 10,135,736 shares of the company’s stock valued at $369,558,000 after buying an additional 143,285 shares during the last quarter. Boston Partners raised its stake in shares of Textron by 3.1% in the second quarter. Boston Partners now owns 8,455,289 shares of the company’s stock valued at $309,126,000 after buying an additional 250,289 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised 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 valued at $264,049,000 after buying an additional 312,668 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Textron by 14.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,776,689 shares of the company’s stock valued at $101,516,000 after buying an additional 340,464 shares during the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.
Shares of Textron Inc. (NYSE:TXT) traded down 0.10% during mid-day trading on Thursday, hitting $40.14. The stock had a trading volume of 37,333 shares. Textron Inc. has a 52-week low of $30.69 and a 52-week high of $43.93. The firm has a market cap of $10.82 billion, a PE ratio of 15.15 and a beta of 1.44. The stock’s 50-day moving average price is $40.13 and its 200-day moving average price is $38.42.
Textron (NYSE:TXT) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Textron had a return on equity of 14.72% and a net margin of 5.28%. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the previous year, the business earned $0.60 EPS. Textron’s revenue was up 8.1% compared to the same quarter last year. On average, analysts anticipate that Textron Inc. will post $2.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be issued a dividend of $0.02 per share. 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 is presently 3.02%.
TXT has been the topic of several research analyst reports. Drexel Hamilton restated a “hold” rating on shares of Textron in a research report on Wednesday, August 31st. Credit Suisse Group AG restated a “buy” rating on shares of Textron in a research report on Wednesday, August 31st. Zacks Investment Research lowered Textron from a “hold” rating to a “sell” rating in a research 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 target price on Textron and gave the company a “buy” rating in a research report on Monday, July 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target 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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