MARSHALL WACE ASIA Ltd acquired a new position in shares of Textron Inc. (NYSE:TXT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,676 shares of the aerospace company’s stock, valued at approximately $834,000.
Several other institutional investors have also recently added to or reduced their stakes in TXT. Piedmont Investment Advisors LLC acquired a new position in shares of Textron during the 2nd quarter worth about $197,000. Dupont Capital Management Corp increased its stake in shares of Textron by 151.1% during the 2nd quarter. Dupont Capital Management Corp now owns 4,997 shares of the aerospace company’s stock worth $329,000 after purchasing an additional 3,007 shares during the last quarter. Aperio Group LLC increased its stake in shares of Textron by 3.2% during the 2nd quarter. Aperio Group LLC now owns 120,869 shares of the aerospace company’s stock worth $7,966,000 after purchasing an additional 3,754 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Textron by 21.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 31,029 shares of the aerospace company’s stock worth $2,045,000 after purchasing an additional 5,455 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Textron by 0.3% during the 2nd quarter. Wells Fargo & Company MN now owns 794,714 shares of the aerospace company’s stock worth $52,380,000 after purchasing an additional 2,598 shares during the last quarter. Institutional investors own 83.80% of the company’s stock.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Monday, August 13th. ValuEngine lowered shares of Textron from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. Morgan Stanley set a $71.00 price target on shares of Textron and gave the company a “hold” rating in a research note on Thursday, October 11th. Finally, Jefferies Financial Group set a $68.00 price target on shares of Textron and gave the company a “buy” rating in a research note on Friday, November 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $72.73.
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 Zacks’ consensus estimate of $0.76 by ($0.15). Textron had a return on equity of 13.72% and a net margin of 6.11%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same quarter in the previous year, the company earned $0.65 EPS. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, equities analysts forecast that Textron Inc. will post 3.21 earnings per share for the current year.
The firm 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 dividend on an annualized basis and a dividend 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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