ING Groep NV raised its holdings in Textron (NYSE:TXT) by 6.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,746 shares of the aerospace company’s stock after buying an additional 1,700 shares during the quarter. ING Groep NV’s holdings in Textron were worth $1,577,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cerebellum GP LLC acquired a new stake in shares of Textron during the 4th quarter worth approximately $133,000. HPM Partners LLC acquired a new stake in shares of Textron during the 4th quarter worth approximately $214,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Textron during the 4th quarter worth approximately $218,000. Aries Wealth Management acquired a new stake in shares of Textron during the 4th quarter worth approximately $222,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Textron by 33,614.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,720 shares of the aerospace company’s stock worth $267,000 after purchasing an additional 4,706 shares in the last quarter. 84.45% of the stock is currently owned by hedge funds and other institutional investors.
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Textron stock opened at $65.65 on Thursday. The company has a quick ratio of 1.09, a current ratio of 2.31 and a debt-to-equity ratio of 0.54. The company has a market cap of $16.78 billion, a P/E ratio of 26.80, a P/E/G ratio of 1.83 and a beta of 1.39. Textron has a one year low of $65.37 and a one year high of $65.78.
Textron (NYSE:TXT) last posted its earnings results on Wednesday, April 18th. The aerospace company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.26. The business had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.06 billion. Textron had a return on equity of 12.65% and a net margin of 2.74%. Textron’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company earned $0.46 EPS. equities research analysts forecast that Textron will post 3.13 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, July 1st. Investors of record on Friday, June 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.12%. Textron’s dividend payout ratio (DPR) is presently 3.27%.
In other Textron news, CEO Scott C. Donnelly sold 158,237 shares of Textron stock in a transaction on Friday, April 27th. The stock was sold at an average price of $63.05, for a total value of $9,976,842.85. Following the completion of the transaction, the chief executive officer now owns 715,106 shares in the company, valued at approximately $45,087,433.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott C. Donnelly sold 11,988 shares of Textron stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $61.60, for a total value of $738,460.80. Following the completion of the transaction, the chief executive officer now owns 715,106 shares of the company’s stock, valued at approximately $44,050,529.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,225 shares of company stock valued at $15,754,504. Corporate insiders own 1.20% of the company’s stock.
Several brokerages have recently weighed in on TXT. Cowen reissued a “buy” rating and set a $70.00 price objective on shares of Textron in a report on Thursday, February 1st. Stephens set a $66.00 price objective on Textron and gave the stock a “hold” rating in a report on Monday, April 16th. Barclays lifted their price objective on Textron from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, April 19th. ValuEngine raised Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 19th. Finally, Morgan Stanley cut their target price on Textron from $60.00 to $59.00 and set a “hold” rating for the company in a research report on Thursday, April 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Textron presently has a consensus rating of “Buy” and an average price target of $67.17.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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