CIBC World Markets Inc. trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 95.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,152 shares of the aerospace company’s stock after selling 200,957 shares during the quarter. CIBC World Markets Inc.’s holdings in Textron were worth $478,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. MRJ Capital Inc. bought a new stake in Textron during the second quarter valued at approximately $3,589,000. Airain ltd bought a new stake in Textron during the second quarter valued at approximately $2,608,000. Bank of Nova Scotia grew its position in Textron by 939.6% during the first quarter. Bank of Nova Scotia now owns 61,719 shares of the aerospace company’s stock valued at $2,937,000 after buying an additional 55,782 shares during the period. Highbridge Capital Management LLC grew its position in Textron by 153.1% during the first quarter. Highbridge Capital Management LLC now owns 5,308 shares of the aerospace company’s stock valued at $253,000 after buying an additional 15,308 shares during the period. Finally, Mason Street Advisors LLC grew its position in Textron by 1.0% during the first quarter. Mason Street Advisors LLC now owns 37,324 shares of the aerospace company’s stock valued at $1,776,000 after buying an additional 361 shares during the period. Institutional investors own 81.49% of the company’s stock.
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Several analysts recently issued reports on TXT shares. Drexel Hamilton upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Monday, September 11th. ValuEngine upgraded shares of Textron from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Credit Suisse Group restated a “buy” rating and set a $50.00 target price on shares of Textron in a research report on Wednesday, May 24th. Zacks Investment Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Tuesday, July 18th. Finally, BidaskClub upgraded shares of Textron from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $53.42.
Textron Inc. (NYSE TXT) opened at 52.74 on Wednesday. The firm’s 50-day moving average is $49.37 and its 200 day moving average is $47.92. Textron Inc. has a one year low of $37.19 and a one year high of $52.89. The stock has a market cap of $13.96 billion, a P/E ratio of 16.12 and a beta of 1.56.
Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Textron had a net margin of 6.45% and a return on equity of 11.97%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS. On average, analysts anticipate that Textron Inc. will post $2.53 EPS for the current fiscal year.
The company also recently disclosed 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 0.15%. Textron’s payout ratio is 2.45%.
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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