Stanley Laman Group Ltd. cut its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 27.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,407 shares of the aerospace company's stock after selling 10,974 shares during the period. Stanley Laman Group Ltd.'s holdings in Textron were worth $2,125,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Balyasny Asset Management L.P. increased its stake in Textron by 6,785.9% during 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 purchasing an additional 1,218,485 shares during the period. Invesco Ltd. grew its holdings 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 valued at $591,523,000 after purchasing an additional 1,167,105 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Textron during the 4th quarter worth approximately $41,451,000. D. E. Shaw & Co. Inc. lifted its holdings in Textron by 97.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company's stock worth $78,872,000 after buying an additional 510,085 shares in the last quarter. 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 in the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.
Analyst Ratings Changes
TXT has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 target price (up from $85.00) on shares of Textron in a report on Thursday. Citigroup lowered their price objective on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. TD Cowen raised shares of Textron to a "hold" rating in a report on Monday, February 24th. UBS Group boosted their price target on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a report on Monday, April 28th. Finally, Morgan Stanley reduced their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Textron currently has a consensus rating of "Moderate Buy" and an average target price of $88.36.
View Our Latest Report on Textron
Textron Stock Performance
NYSE TXT traded down $0.21 on Monday, reaching $77.18. The stock had a trading volume of 1,051,356 shares, compared to its average volume of 1,458,571. The stock has a market cap of $13.93 billion, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $94.57. The business's 50-day moving average price is $71.50 and its 200 day moving average price is $74.19. 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 issued its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. The firm had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Textron's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 EPS. As a group, equities analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.
Textron Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Friday, June 13th. Textron's dividend payout ratio is presently 1.81%.
Textron Company Profile
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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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