Stonegate Investment Group LLC acquired a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,021 shares of the aerospace company's stock, valued at approximately $291,000.
Several other large investors have also bought and sold shares of the company. Balyasny Asset Management L.P. grew its stake in shares of Textron by 6,785.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company's stock worth $94,575,000 after acquiring an additional 1,218,485 shares during the period. Invesco Ltd. grew its stake in shares of Textron by 17.8% in the fourth quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company's stock worth $591,523,000 after acquiring an additional 1,167,105 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Textron in the fourth quarter worth approximately $41,451,000. D. E. Shaw & Co. Inc. grew its stake in shares of Textron by 97.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company's stock worth $78,872,000 after acquiring an additional 510,085 shares during the period. Finally, Boston Partners grew its stake in shares of Textron by 4.7% in the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company's stock worth $572,465,000 after acquiring an additional 333,127 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.
Textron Price Performance
Shares of TXT stock traded up $0.58 during mid-day trading on Monday, hitting $77.56. The company had a trading volume of 1,860,528 shares, compared to its average volume of 1,486,545. Textron Inc. has a 52-week low of $57.70 and a 52-week high of $94.57. The stock's 50 day moving average price is $72.69 and its 200-day moving average price is $73.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83. The company has a market capitalization of $14.00 billion, a P/E ratio of 17.59, a P/E/G ratio of 1.25 and a beta of 1.16.
Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. Textron had a net margin of 5.98% and a return on equity of 14.77%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The company's quarterly revenue was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.
Textron Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio (DPR) is presently 1.81%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on TXT. UBS Group lifted their price target on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research note on Monday, April 28th. TD Cowen upgraded shares of Textron to a "hold" rating in a research note on Monday, February 24th. Citigroup cut their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Jefferies Financial Group restated a "buy" rating and set a $95.00 target price (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. Finally, Morgan Stanley cut their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $88.36.
Check Out Our Latest Stock Analysis on TXT
Textron Profile
(
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.
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