Highbridge Capital Management LLC Raises Stake in Textron Inc. (TXT)

Highbridge Capital Management LLC raised its position in Textron Inc. (NYSE:TXT) by 153.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,308 shares of the aerospace company’s stock after buying an additional 15,308 shares during the period. Highbridge Capital Management LLC’s holdings in Textron were worth $253,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in Textron by 3.3% in the first quarter. State Street Corp now owns 11,562,285 shares of the aerospace company’s stock worth $550,256,000 after buying an additional 370,189 shares in the last quarter. Two Sigma Securities LLC acquired a new position in Textron during the first quarter worth approximately $210,000. Schwab Charles Investment Management Inc. increased its position in Textron by 7.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 905,908 shares of the aerospace company’s stock worth $43,113,000 after buying an additional 65,771 shares in the last quarter. Dynamic Capital Management Ltd increased its position in Textron by 107.8% in the first quarter. Dynamic Capital Management Ltd now owns 78,149 shares of the aerospace company’s stock worth $3,719,000 after buying an additional 40,546 shares in the last quarter. Finally, United Capital Financial Advisers LLC acquired a new position in Textron during the first quarter worth approximately $322,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Shares of Textron Inc. (TXT) opened at 48.73 on Wednesday. The company has a market capitalization of $13.04 billion, a PE ratio of 14.53 and a beta of 1.56. Textron Inc. has a 1-year low of $36.33 and a 1-year high of $50.93. The firm has a 50-day moving average price of $47.16 and a 200-day moving average price of $47.73.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, April 19th. The aerospace company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. Textron had a net margin of 6.67% and a return on equity of 12.53%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the previous year, the business earned $0.55 earnings per share. The company’s revenue was down 3.4% on a year-over-year basis. Equities analysts anticipate that Textron Inc. will post $2.52 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Friday, June 9th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date was Wednesday, June 7th. Textron’s dividend payout ratio is currently 2.39%.

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A number of research firms have commented on TXT. BidaskClub downgraded shares of Textron from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Credit Suisse Group reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Textron in a report on Wednesday, May 24th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Textron in a report on Thursday, May 18th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Textron in a report on Saturday, April 22nd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $52.75.

About Textron

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

Institutional Ownership by Quarter for Textron (NYSE:TXT)

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