Sheaff Brock Investment Advisors LLC cut its holdings in shares of Textron Inc. (NYSE:TXT) by 12.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,100 shares of the aerospace company’s stock after selling 2,400 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Textron were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of TXT. Wells Fargo & Company MN lifted its position in Textron by 1.0% during the first quarter. Wells Fargo & Company MN now owns 728,686 shares of the aerospace company’s stock valued at $34,678,000 after purchasing an additional 7,154 shares during the period. Great West Life Assurance Co. Can lifted its position in Textron by 0.5% during the first quarter. Great West Life Assurance Co. Can now owns 193,435 shares of the aerospace company’s stock valued at $9,196,000 after purchasing an additional 1,034 shares during the period. Commerzbank Aktiengesellschaft FI lifted its position in Textron by 48.7% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 7,778 shares of the aerospace company’s stock valued at $370,000 after purchasing an additional 2,548 shares during the period. Advisors Asset Management Inc. lifted its position in Textron by 12.6% during the first quarter. Advisors Asset Management Inc. now owns 42,705 shares of the aerospace company’s stock valued at $2,032,000 after purchasing an additional 4,771 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Textron by 8.2% during the first quarter. Daiwa Securities Group Inc. now owns 7,950 shares of the aerospace company’s stock valued at $378,000 after purchasing an additional 600 shares during the period. Institutional investors own 81.49% of the company’s stock.
TXT has been the subject of a number of research reports. ValuEngine upgraded shares of Textron from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Credit Suisse Group restated an “outperform” rating and set a $55.00 target price (up from $50.00) on shares of Textron in a research report on Thursday, July 20th. Bank of America Corporation downgraded shares of Textron from a “buy” rating to an “underperform” rating and decreased their target price for the company from $53.00 to $45.00 in a research report on Friday, July 21st. BidaskClub downgraded shares of Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Morgan Stanley boosted their target price on shares of Textron from $45.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $53.75.
Textron Inc. (NYSE TXT) opened at 53.09 on Friday. The firm has a market cap of $14.05 billion, a P/E ratio of 16.23 and a beta of 1.56. The firm has a 50 day moving average of $49.37 and a 200-day moving average of $47.92. Textron Inc. has a 12 month low of $37.19 and a 12 month high of $53.21.
Textron (NYSE:TXT) last released its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Textron had a net margin of 6.45% and a return on equity of 11.97%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the business earned $0.66 EPS. The business’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that Textron Inc. will post $2.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, September 14th. Textron’s dividend payout ratio (DPR) is presently 2.45%.
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Textron Company Profile
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.
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