Nisa Investment Advisors LLC cut its position in Textron Inc. (NYSE:TXT) by 19.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,175 shares of the aerospace company’s stock after selling 20,428 shares during the period. Nisa Investment Advisors LLC’s holdings in Textron were worth $3,918,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of TXT. LS Investment Advisors LLC raised its position in shares of Textron by 5.8% in the second quarter. LS Investment Advisors LLC now owns 11,556 shares of the aerospace company’s stock valued at $544,000 after buying an additional 636 shares during the period. National Pension Service increased its stake in Textron by 9.0% in the second quarter. National Pension Service now owns 275,376 shares of the aerospace company’s stock valued at $12,844,000 after buying an additional 22,684 shares in the last quarter. Creative Planning increased its stake in Textron by 9.6% in the second quarter. Creative Planning now owns 13,137 shares of the aerospace company’s stock valued at $619,000 after buying an additional 1,154 shares in the last quarter. Bank of The West increased its stake in Textron by 14.5% in the second quarter. Bank of The West now owns 79,540 shares of the aerospace company’s stock valued at $3,746,000 after buying an additional 10,073 shares in the last quarter. Finally, Deane Retirement Strategies Inc. purchased a new stake in Textron during the second quarter valued at approximately $1,458,000. 83.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Textron Inc. (TXT) traded down 0.89% during trading on Friday, hitting $47.69. The stock had a trading volume of 1,037,036 shares. Textron Inc. has a 12 month low of $37.19 and a 12 month high of $50.93. The company has a market cap of $12.62 billion, a PE ratio of 14.58 and a beta of 1.56. The stock has a 50 day moving average of $48.76 and a 200 day moving average of $47.71.
Textron (NYSE:TXT) last announced its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Textron had a net margin of 6.45% and a return on equity of 11.97%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Equities analysts forecast that Textron Inc. will post $2.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be paid 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 0.17%. Textron’s dividend payout ratio (DPR) is 2.45%.
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Several equities research analysts recently issued reports on the company. BidaskClub downgraded Textron from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Jefferies Group LLC restated a “buy” rating and issued a $60.00 price objective on shares of Textron in a research note on Thursday, May 18th. Bank of America Corporation cut Textron from a “buy” rating to an “underperform” rating and dropped their price target for the company from $53.00 to $45.00 in a research report on Friday, July 21st. Credit Suisse Group reaffirmed a “buy” rating and set a $50.00 price target on shares of Textron in a research report on Wednesday, May 24th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $54.00 price target (up previously from $52.00) on shares of Textron in a research report on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $53.00.
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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