Rhumbline Advisers increased its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 347,157 shares of the aerospace company's stock after purchasing an additional 21,446 shares during the quarter. Rhumbline Advisers owned 0.19% of Textron worth $25,082,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in Textron during the fourth quarter worth $31,000. Optiver Holding B.V. acquired a new position in shares of Textron in the fourth quarter worth $56,000. Golden State Wealth Management LLC acquired a new position in shares of Textron in the fourth quarter worth $63,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Textron by 123.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock worth $61,000 after acquiring an additional 465 shares during the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Textron in the fourth quarter worth $68,000. 86.03% of the stock is owned by institutional investors and hedge funds.
Textron Trading Up 1.6%
Textron stock traded up $1.17 during trading on Friday, hitting $75.67. The company's stock had a trading volume of 793,030 shares, compared to its average volume of 1,220,234. The stock has a market capitalization of $13.66 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 1.18 and a beta of 1.16. The stock's fifty day moving average is $70.20 and its 200 day moving average is $74.58. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $94.57. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.
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, beating the consensus estimate of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The business's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Textron Inc. will post 6.12 EPS for the current year.
Textron Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio (DPR) is presently 1.81%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on TXT. TD Cowen raised Textron to a "hold" rating in a report on Monday, February 24th. Citigroup cut their price target on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, April 10th. UBS Group boosted their price target on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a report on Monday, April 28th. Finally, Morgan Stanley cut their price target on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Textron has a consensus rating of "Hold" and a consensus price target of $87.70.
Check Out Our Latest Stock Report on Textron
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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