Rampart Investment Management Company LLC boosted its stake in shares of Textron Inc. (NYSE:TXT) by 38.8% in the third quarter, HoldingsChannel.com reports. The fund owned 8,140 shares of the aerospace company’s stock after purchasing an additional 2,276 shares during the period. Rampart Investment Management Company LLC’s holdings in Textron were worth $183,434,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Cookson Peirce & Co. Inc. lifted its position in Textron by 0.3% during the 3rd quarter. Cookson Peirce & Co. Inc. now owns 283,940 shares of the aerospace company’s stock worth $20,293,000 after acquiring an additional 770 shares during the period. Blue Fin Capital Inc. raised its stake in shares of Textron by 12.3% during the 3rd quarter. Blue Fin Capital Inc. now owns 8,685 shares of the aerospace company’s stock worth $621,000 after buying an additional 949 shares in the last quarter. Aperio Group LLC raised its stake in shares of Textron by 0.8% during the 3rd quarter. Aperio Group LLC now owns 121,855 shares of the aerospace company’s stock worth $8,709,000 after buying an additional 986 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Textron by 3.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 30,947 shares of the aerospace company’s stock worth $2,211,000 after buying an additional 1,036 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Textron by 3.3% during the 3rd quarter. US Bancorp DE now owns 33,960 shares of the aerospace company’s stock worth $2,427,000 after buying an additional 1,090 shares in the last quarter. 83.73% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on the company. ValuEngine downgraded Textron from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. Zacks Investment Research raised Textron from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research note on Wednesday, September 5th. Morgan Stanley set a $71.00 target price on Textron and gave the stock a “hold” rating in a research note on Thursday, October 11th. Jefferies Financial Group set a $68.00 target price on Textron and gave the stock a “buy” rating in a research note on Friday, November 30th. Finally, Wells Fargo & Co cut their target price on Textron from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $72.73.
Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 18th. The aerospace company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.15). Textron had a net margin of 6.11% and a return on equity of 13.72%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the previous year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. On average, equities research analysts expect that Textron Inc. will post 3.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, December 13th. Textron’s payout ratio is currently 3.27%.
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Textron Company Profile
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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