Oakbrook Investments LLC acquired a new position in shares of Textron Inc. (NYSE:TXT) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 13,740 shares of the aerospace company’s stock, valued at approximately $982,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of Textron by 2.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 93,150 shares of the aerospace company’s stock worth $6,657,000 after purchasing an additional 2,132 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Textron during the 2nd quarter worth $1,838,000. Global X Management Co LLC lifted its stake in shares of Textron by 86.7% during the 2nd quarter. Global X Management Co LLC now owns 6,253 shares of the aerospace company’s stock worth $412,000 after purchasing an additional 2,903 shares during the last quarter. AMP Capital Investors Ltd purchased a new stake in shares of Textron during the 2nd quarter worth $4,046,000. Finally, Carillon Tower Advisers Inc. lifted its stake in shares of Textron by 17.1% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 408,234 shares of the aerospace company’s stock worth $26,907,000 after purchasing an additional 59,750 shares during the last quarter. Hedge funds and other institutional investors own 84.96% of the company’s stock.
Shares of TXT stock opened at $55.81 on Wednesday. The company has a current ratio of 2.29, a quick ratio of 1.11 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $13.14 billion, a PE ratio of 22.78, a PEG ratio of 1.29 and a beta of 1.66. Textron Inc. has a fifty-two week low of $51.49 and a fifty-two week high of $72.87.
Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 18th. The aerospace company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.15). The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.52 billion. Textron had a net margin of 6.11% and a return on equity of 13.72%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 earnings per share. Research analysts anticipate that Textron Inc. will post 3.2 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Thursday, December 13th. Textron’s dividend payout ratio is presently 3.27%.
Several research analysts recently issued reports on the company. Cowen reaffirmed a “$66.44” rating and set a $73.00 target price on shares of Textron in a research report on Wednesday, July 18th. JPMorgan Chase & Co. upped their target price on Textron from $74.00 to $77.00 and gave the company a “$66.52” rating in a research report on Monday, July 23rd. Bank of America set a $78.00 target price on Textron and gave the company a “buy” rating in a research report on Wednesday, July 25th. Zacks Investment Research raised Textron from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Wednesday, September 5th. Finally, Jefferies Financial Group upped their target price on Textron to $82.00 and gave the company a “buy” rating in a research report on Wednesday, September 26th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $74.64.
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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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