IFM Investors Pty Ltd raised its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 38.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 24,012 shares of the aerospace company's stock after purchasing an additional 6,718 shares during the period. IFM Investors Pty Ltd's holdings in Textron were worth $1,735,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Syon Capital LLC boosted its stake in Textron by 4.5% during the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock valued at $271,000 after buying an additional 153 shares in the last quarter. Motley Fool Asset Management LLC boosted its stake in Textron by 6.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock valued at $209,000 after buying an additional 163 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Textron by 10.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,881 shares of the aerospace company's stock valued at $144,000 after buying an additional 175 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Textron by 7.4% during the first quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock valued at $207,000 after buying an additional 197 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Textron by 22.9% during the first quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock valued at $81,000 after buying an additional 208 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.
Textron Stock Up 0.4%
Textron stock traded up $0.35 during mid-day trading on Wednesday, hitting $82.47. The company's stock had a trading volume of 753,771 shares, compared to its average volume of 1,480,932. The firm's 50 day moving average is $76.04 and its 200 day moving average is $73.99. The company has a market cap of $14.89 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $94.57.
Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. Textron had a return on equity of 14.77% and a net margin of 5.98%. The firm had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the business earned $1.20 EPS. The business's revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.
Textron Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend was Friday, June 13th. Textron's dividend payout ratio (DPR) is presently 1.81%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on TXT. Citigroup decreased their target price on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $85.00 target price (down previously from $95.00) on shares of Textron in a research note on Tuesday, July 1st. Wall Street Zen lowered Textron from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 price target (up previously from $85.00) on shares of Textron in a research report on Thursday, June 12th. Finally, UBS Group increased their price target on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $88.08.
View Our Latest Stock Analysis on Textron
About Textron
(
Free Report)
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.
Featured Stories
Before you consider Textron, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Textron wasn't on the list.
While Textron currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
