Natixis Advisors L.P. lessened its position in shares of Textron Inc. (NYSE:TXT) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,433 shares of the aerospace company’s stock after selling 9,926 shares during the period. Natixis Advisors L.P.’s holdings in Textron were worth $3,721,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Covington Capital Management increased its stake in Textron by 130.2% in the 3rd quarter. Covington Capital Management now owns 845 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 478 shares during the last quarter. Quest Capital Management Inc. ADV bought a new position in Textron in the 3rd quarter worth about $52,000. Oppenheimer Asset Management Inc. increased its stake in Textron by 23.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,805 shares of the aerospace company’s stock worth $88,000 after acquiring an additional 345 shares during the last quarter. NEXT Financial Group Inc increased its stake in Textron by 134.1% in the 4th quarter. NEXT Financial Group Inc now owns 3,020 shares of the aerospace company’s stock worth $135,000 after acquiring an additional 1,730 shares during the last quarter. Finally, North Star Investment Management Corp. bought a new position in Textron in the 4th quarter worth about $178,000. 82.45% of the stock is currently owned by hedge funds and other institutional investors.
TXT stock traded down $0.32 during trading on Friday, hitting $40.56. 218,064 shares of the company traded hands, compared to its average volume of 1,870,402. The firm has a market capitalization of $9.54 billion, a PE ratio of 11.56, a P/E/G ratio of 1.05 and a beta of 1.72. Textron Inc. has a 1 year low of $39.45 and a 1 year high of $58.00. The company has a 50-day moving average of $46.65 and a 200-day moving average of $46.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.78 and a current ratio of 1.84.
Textron (NYSE:TXT) last issued its earnings results on Wednesday, January 29th. The aerospace company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.03. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Textron had a return on equity of 16.16% and a net margin of 5.98%. Textron’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.15 EPS. Sell-side analysts expect that Textron Inc. will post 3.57 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.20%. The ex-dividend date is Thursday, March 12th. Textron’s dividend payout ratio (DPR) is currently 2.14%.
A number of research firms have recently issued reports on TXT. JPMorgan Chase & Co. cut their price objective on Textron from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. TheStreet cut Textron from a “b-” rating to a “c+” rating in a report on Monday, December 9th. Cowen reiterated a “buy” rating and issued a $53.00 price objective on shares of Textron in a report on Tuesday, February 11th. Finally, Barclays reiterated a “buy” rating and issued a $57.00 price objective on shares of Textron in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $53.13.
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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