TD Asset Management Inc. lifted its position in shares of Textron Inc. (NYSE:TXT) by 5.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 583,663 shares of the aerospace company’s stock after buying an additional 29,110 shares during the period. TD Asset Management Inc.’s holdings in Textron were worth $30,957,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Westpac Banking Corp increased its position in shares of Textron by 75.5% in the second quarter. Westpac Banking Corp now owns 27,589 shares of the aerospace company’s stock worth $1,463,000 after acquiring an additional 11,870 shares in the last quarter. CWM LLC increased its position in shares of Textron by 196.5% in the second quarter. CWM LLC now owns 2,840 shares of the aerospace company’s stock worth $151,000 after acquiring an additional 1,882 shares in the last quarter. Iridian Asset Management LLC CT increased its position in shares of Textron by 98.9% in the second quarter. Iridian Asset Management LLC CT now owns 7,239 shares of the aerospace company’s stock worth $384,000 after acquiring an additional 3,600 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Textron by 44.5% in the second quarter. Janus Henderson Group PLC now owns 545,839 shares of the aerospace company’s stock worth $28,950,000 after acquiring an additional 168,171 shares in the last quarter. Finally, Advisor Group Inc. increased its position in shares of Textron by 27.8% in the second quarter. Advisor Group Inc. now owns 43,121 shares of the aerospace company’s stock worth $2,286,000 after acquiring an additional 9,373 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.
Separately, ValuEngine lowered shares of Textron from a “hold” rating to a “sell” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $59.29.
TXT traded up $0.37 during trading hours on Friday, reaching $43.73. 47,466 shares of the stock traded hands, compared to its average volume of 1,991,233. The firm’s fifty day simple moving average is $50.08 and its two-hundred day simple moving average is $51.18. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.22 and a beta of 1.74. Textron Inc. has a fifty-two week low of $42.53 and a fifty-two week high of $72.87. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.17 and a quick ratio of 0.97.
Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, July 17th. The aerospace company reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.43 billion. Textron had a net margin of 9.07% and a return on equity of 15.55%. The business’s revenue was down 13.4% on a year-over-year basis. During the same period last year, the business earned $0.87 EPS. On average, research analysts predict that Textron Inc. will post 3.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Thursday, September 12th. Textron’s payout ratio is 2.40%.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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