Strs Ohio Has $2.18 Million Position in Textron Inc. (NYSE:TXT)

Posted by Defense World Staff on Jul 19th, 2023

Strs Ohio increased its position in Textron Inc. (NYSE:TXT – Free Report) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,861 shares of the aerospace company’s stock after buying an additional 1,482 shares during the period. Strs Ohio’s holdings in Textron were worth $2,179,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TXT. Man Group plc acquired a new stake in shares of Textron in the fourth quarter worth about $64,467,000. National Bank of Canada FI increased its holdings in shares of Textron by 2,478.9% during the 4th quarter. National Bank of Canada FI now owns 661,074 shares of the aerospace company’s stock valued at $46,804,000 after acquiring an additional 635,440 shares during the last quarter. Mariner LLC increased its holdings in shares of Textron by 2,973.5% during the 1st quarter. Mariner LLC now owns 471,666 shares of the aerospace company’s stock valued at $35,083,000 after acquiring an additional 456,320 shares during the last quarter. Bank of America Corp DE lifted its holdings in Textron by 37.2% in the 4th quarter. Bank of America Corp DE now owns 1,467,104 shares of the aerospace company’s stock worth $103,871,000 after purchasing an additional 397,556 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in Textron by 260.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 508,975 shares of the aerospace company’s stock worth $36,035,000 after purchasing an additional 367,723 shares during the period. 86.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TXT has been the subject of a number of analyst reports. Vertical Research cut shares of Textron from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a research note on Wednesday, May 24th. Citigroup assumed coverage on shares of Textron in a research report on Thursday, July 6th. They set a “buy” rating and a $90.00 target price for the company. Wolfe Research assumed coverage on Textron in a research report on Thursday, April 6th. They issued a “peer perform” rating on the stock. Finally, StockNews.com began coverage on Textron in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Textron Stock Up 0.7 %

Shares of TXT opened at $67.91 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.90. The company has a 50-day simple moving average of $65.46 and a 200-day simple moving average of $68.59. Textron Inc. has a 52 week low of $58.03 and a 52 week high of $76.11. The firm has a market capitalization of $13.70 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.19 and a beta of 1.48.

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 firm had revenue of $3.02 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts expect that Textron Inc. will post 5.09 earnings per share for the current year.

Textron Announces Dividend

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 $0.02 dividend. The ex-dividend date was Thursday, June 8th. This represents a $0.08 annualized dividend and a yield of 0.12%. Textron’s dividend payout ratio (DPR) is currently 1.98%.

Textron Company Profile

(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.