Boston Partners raised its stake in shares of Textron Inc. (NYSE:TXT) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,907,375 shares of the aerospace company’s stock after buying an additional 79,355 shares during the period. Boston Partners owned about 1.45% of Textron worth $184,037,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Macquarie Group Ltd. raised its position in Textron by 5.2% in the fourth quarter. Macquarie Group Ltd. now owns 10,200 shares of the aerospace company’s stock valued at $496,000 after buying an additional 500 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in Textron by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 232,830 shares of the aerospace company’s stock valued at $11,081,000 after buying an additional 7,043 shares during the period. Gulf International Bank UK Ltd raised its position in Textron by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 81,184 shares of the aerospace company’s stock valued at $3,863,000 after buying an additional 800 shares during the period. Bank of Montreal Can increased its stake in shares of Textron by 0.5% in the first quarter. Bank of Montreal Can now owns 132,775 shares of the aerospace company’s stock valued at $6,317,000 after buying an additional 644 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Textron by 21.1% in the first quarter. Nisa Investment Advisors LLC now owns 103,603 shares of the aerospace company’s stock valued at $4,930,000 after buying an additional 18,023 shares in the last quarter. 83.55% of the stock is owned by institutional investors and hedge funds.
Shares of Textron Inc. (TXT) opened at 48.48 on Friday. The company has a 50 day moving average of $48.43 and a 200-day moving average of $47.69. The company has a market capitalization of $12.83 billion, a P/E ratio of 14.82 and a beta of 1.56. Textron Inc. has a 12-month low of $37.19 and a 12-month high of $50.93.
Textron (NYSE:TXT) last released its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Textron had a net margin of 6.45% and a return on equity of 11.97%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Textron Inc. will post $2.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.17%. Textron’s payout ratio is presently 2.45%.
TXT has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Credit Suisse Group reiterated a “buy” rating and issued a $50.00 price objective on shares of Textron in a research report on Wednesday, May 24th. Cowen and Company reiterated an “outperform” rating and issued a $60.00 price objective on shares of Textron in a research report on Saturday, April 22nd. BidaskClub downgraded shares of Textron from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Finally, Bank of America Corporation downgraded shares of Textron from a “buy” rating to an “underperform” rating and cut their price objective for the company from $53.00 to $45.00 in a research report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Textron presently has an average rating of “Hold” and a consensus price target of $53.60.
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. The Textron Aviation segment is engaged in general aviation.
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