Mackenzie Financial Corp grew its holdings in Textron Inc. (NYSE:TXT – Free Report) by 6.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,687 shares of the aerospace company’s stock after purchasing an additional 17,066 shares during the period. Mackenzie Financial Corp owned approximately 0.13% of Textron worth $19,260,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of TXT. James Investment Research Inc. purchased a new stake in shares of Textron in the fourth quarter valued at $30,000. Money Concepts Capital Corp raised its holdings in shares of Textron by 109.0% during the fourth quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 231 shares in the last quarter. Thompson Investment Management Inc. purchased a new stake in shares of Textron during the first quarter worth $35,000. CENTRAL TRUST Co raised its holdings in shares of Textron by 100.0% during the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock worth $35,000 after acquiring an additional 300 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Textron during the first quarter worth $40,000. Hedge funds and other institutional investors own 86.77% of the company’s stock.
Wall Street Analyst Weigh In
TXT has been the subject of several recent research reports. Citigroup initiated coverage on Textron in a report on Thursday, July 6th. They set a “buy” rating and a $90.00 price objective for the company. Wolfe Research initiated coverage on Textron in a report on Thursday, April 6th. They set a “peer perform” rating on the stock. StockNews.com initiated coverage on Textron in a report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Vertical Research lowered Textron from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a report on Wednesday, May 24th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.25.
Textron Trading Up 1.5 %
Textron (NYSE:TXT – Get Free Report) last issued its quarterly earnings results on Thursday, April 27th. The aerospace company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.10. Textron had a return on equity of 12.82% and a net margin of 6.66%. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period last year, the business posted $0.88 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. Equities research analysts predict that Textron Inc. will post 5.09 earnings per share for the current year.
Textron Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Friday, June 9th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Thursday, June 8th. Textron’s dividend payout ratio (DPR) is presently 1.98%.
Textron Company Profile
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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