Barings LLC increased its holdings in Textron Inc. (NYSE:TXT) by 129.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 61,157 shares of the aerospace company’s stock after purchasing an additional 34,500 shares during the quarter. Barings LLC’s holdings in Textron were worth $3,098,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its position in shares of Textron by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 11,191 shares of the aerospace company’s stock worth $515,000 after buying an additional 197 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Textron by 13.3% in the 4th quarter. Bessemer Group Inc. now owns 1,777 shares of the aerospace company’s stock worth $82,000 after buying an additional 209 shares in the last quarter. CWM LLC boosted its position in shares of Textron by 38.6% in the 4th quarter. CWM LLC now owns 970 shares of the aerospace company’s stock worth $45,000 after buying an additional 270 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Textron by 0.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 31,219 shares of the aerospace company’s stock worth $1,435,000 after buying an additional 272 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Textron by 3.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 10,052 shares of the aerospace company’s stock worth $509,000 after buying an additional 353 shares in the last quarter. Institutional investors and hedge funds own 83.77% of the company’s stock.
In other Textron news, VP Mark S. Bamford sold 4,500 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $54.75, for a total value of $246,375.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Frank T. Connor sold 72,732 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $55.17, for a total transaction of $4,012,624.44. Following the completion of the transaction, the chief financial officer now owns 186,456 shares in the company, valued at $10,286,777.52. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.
NYSE:TXT opened at $47.56 on Friday. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 1.06 and a beta of 1.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.99 and a current ratio of 2.17. Textron Inc. has a 12-month low of $43.27 and a 12-month high of $72.87.
Textron (NYSE:TXT) last released its earnings results on Wednesday, April 17th. The aerospace company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. The company had revenue of $31.09 million for the quarter, compared to analyst estimates of $3.17 billion. Textron had a net margin of 8.79% and a return on equity of 15.66%. The firm’s quarterly revenue was down 99.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 EPS. Analysts forecast that Textron Inc. will post 3.7 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.17%. Textron’s dividend payout ratio (DPR) is 2.40%.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Textron from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. TheStreet upgraded shares of Textron from a “c+” rating to a “b” rating in a research report on Thursday, January 31st. Cowen reiterated a “buy” rating and issued a $62.00 price objective on shares of Textron in a research report on Wednesday, February 27th. Credit Suisse Group assumed coverage on shares of Textron in a research report on Monday, April 1st. They issued a “neutral” rating and a $50.00 price objective on the stock. Finally, ValuEngine lowered shares of Textron from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $64.60.
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Textron Company Profile
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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