Sigma Planning Corp reduced its stake in Textron Inc. (NYSE:TXT – Free Report) by 5.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,878 shares of the aerospace company’s stock after selling 403 shares during the quarter. Sigma Planning Corp’s holdings in Textron were worth $486,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. increased its position in shares of Textron by 27,681.1% during the 1st quarter. Pacer Advisors Inc. now owns 995,675 shares of the aerospace company’s stock valued at $70,325,000 after purchasing an additional 992,091 shares during the last quarter. Man Group plc purchased a new stake in shares of Textron during the 4th quarter valued at $64,467,000. Mariner LLC increased its position 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 purchasing an additional 456,320 shares during the last quarter. Bank of America Corp DE increased its position in shares of Textron by 37.2% during the 4th quarter. Bank of America Corp DE now owns 1,467,104 shares of the aerospace company’s stock valued at $103,871,000 after purchasing an additional 397,556 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Textron by 260.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 508,975 shares of the aerospace company’s stock valued at $36,035,000 after purchasing an additional 367,723 shares during the last quarter. 86.77% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
TXT has been the subject of several recent research reports. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a report on Friday, August 4th. Vertical Research lowered Textron from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a report on Wednesday, May 24th. Susquehanna lifted their price objective on Textron from $83.00 to $89.00 and gave the stock a “positive” rating in a report on Friday, July 28th. Finally, Citigroup lifted their price objective on Textron from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.20.
Textron Stock Up 0.7 %
Shares of NYSE TXT opened at $78.26 on Friday. Textron Inc. has a 52 week low of $58.03 and a 52 week high of $80.10. The business has a 50-day simple moving average of $69.45 and a two-hundred day simple moving average of $69.17. The company has a quick ratio of 0.93, a current ratio of 1.87 and a debt-to-equity ratio of 0.45. The company has a market cap of $15.50 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.30 and a beta of 1.50.
Textron (NYSE:TXT – Get Free Report) last issued its earnings results on Thursday, July 27th. The aerospace company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.21 by $0.25. Textron had a return on equity of 13.83% and a net margin of 6.88%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter last year, the company earned $1.00 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. Research analysts anticipate that Textron Inc. will post 5.35 earnings per share for the current fiscal year.
Textron Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Sunday, October 1st will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron’s dividend payout ratio (DPR) is presently 1.84%.
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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