Nissay Asset Management Corp Japan ADV lifted its stake in Textron Inc. (NYSE:TXT) by 20.2% in the second quarter, HoldingsChannel reports. The fund owned 25,613 shares of the aerospace company’s stock after purchasing an additional 4,309 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Textron were worth $843,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in shares of Textron by 218.6% in the 1st quarter. Parallel Advisors LLC now owns 1,131 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 776 shares during the period. Signaturefd LLC lifted its stake in shares of Textron by 72.0% in the 1st quarter. Signaturefd LLC now owns 1,206 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 505 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Textron by 40.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,363 shares of the aerospace company’s stock worth $36,000 after acquiring an additional 394 shares during the period. Flagship Harbor Advisors LLC lifted its stake in shares of Textron by 2,286.2% in the 1st quarter. Flagship Harbor Advisors LLC now owns 1,384 shares of the aerospace company’s stock worth $37,000 after acquiring an additional 1,326 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of Textron by 44.4% in the 1st quarter. Bessemer Group Inc. now owns 1,464 shares of the aerospace company’s stock worth $39,000 after acquiring an additional 450 shares during the period. 82.77% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on TXT. Alembic Global Advisors lowered shares of Textron from an “overweight” rating to a “neutral” rating and set a $33.00 price target for the company. in a research note on Monday, April 13th. Citigroup lowered shares of Textron from a “buy” rating to a “neutral” rating and cut their target price for the company from $60.00 to $30.00 in a research note on Monday, April 20th. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday. Barclays increased their target price on shares of Textron from $26.00 to $37.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 16th. Finally, Credit Suisse Group cut their target price on shares of Textron from $51.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $41.10.
TXT stock opened at $34.94 on Friday. Textron Inc. has a 52-week low of $20.26 and a 52-week high of $52.87. The company’s 50 day simple moving average is $33.35 and its 200-day simple moving average is $34.37. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.98 and a quick ratio of 1.10. The firm has a market capitalization of $7.99 billion, a P/E ratio of 21.31, a P/E/G ratio of 8.93 and a beta of 1.67.
Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, July 30th. The aerospace company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.28. Textron had a net margin of 3.01% and a return on equity of 10.60%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the business earned $0.93 earnings per share. The firm’s revenue was down 23.4% compared to the same quarter last year. Sell-side analysts predict that Textron Inc. will post 1.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.23%. Textron’s dividend payout ratio is currently 2.14%.
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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