First Hawaiian Bank bought a new position in shares of Textron Inc. (NYSE:TXT) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,959 shares of the aerospace company’s stock, valued at approximately $140,000.
A number of other large investors have also modified their holdings of the business. Robeco Institutional Asset Management B.V. bought a new position in shares of Textron in the second quarter valued at approximately $1,838,000. Global X Management Co LLC boosted its position in shares of Textron by 86.7% in the second quarter. Global X Management Co LLC now owns 6,253 shares of the aerospace company’s stock valued at $412,000 after acquiring an additional 2,903 shares during the period. Nisa Investment Advisors LLC bought a new position in shares of Textron in the second quarter valued at approximately $5,999,000. AMP Capital Investors Ltd bought a new position in shares of Textron in the second quarter valued at approximately $4,046,000. Finally, Carillon Tower Advisers Inc. boosted its position in shares of Textron by 17.1% in the second quarter. Carillon Tower Advisers Inc. now owns 408,234 shares of the aerospace company’s stock valued at $26,907,000 after acquiring an additional 59,750 shares during the period. Hedge funds and other institutional investors own 82.71% of the company’s stock.
A number of research firms have recently commented on TXT. Zacks Investment Research lowered shares of Textron from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Wells Fargo & Co cut their price objective on shares of Textron from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. ValuEngine lowered shares of Textron from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Morgan Stanley set a $71.00 price objective on shares of Textron and gave the company a “hold” rating in a research report on Thursday, October 11th. Finally, Jefferies Financial Group raised their price objective on shares of 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 issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $74.64.
Textron (NYSE:TXT) last announced its earnings results on Thursday, October 18th. The aerospace company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.15). Textron had a net margin of 6.11% and a return on equity of 13.72%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. Equities research analysts predict that Textron Inc. will post 3.2 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.15%. Textron’s payout ratio is presently 3.27%.
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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