South Dakota Investment Council continued to hold its stake in shares of Textron Inc. (NYSE:TXT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,400 shares of the aerospace company’s stock at the close of the 2nd quarter. South Dakota Investment Council’s holdings in Textron were worth $1,762,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in TXT. BlackRock Inc. grew its holdings in shares of Textron by 3,689.9% during the 1st quarter. BlackRock Inc. now owns 17,144,765 shares of the aerospace company’s stock worth $815,921,000 after purchasing an additional 16,692,390 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Textron by 28.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 4,323,775 shares of the aerospace company’s stock worth $203,650,000 after purchasing an additional 957,464 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Textron by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 24,537,994 shares of the aerospace company’s stock worth $1,167,763,000 after purchasing an additional 812,940 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Textron by 27.3% during the 2nd quarter. Victory Capital Management Inc. now owns 3,727,749 shares of the aerospace company’s stock worth $175,577,000 after purchasing an additional 799,779 shares in the last quarter. Finally, Gotham Asset Management LLC grew its holdings in shares of Textron by 2,690.3% during the 1st quarter. Gotham Asset Management LLC now owns 561,971 shares of the aerospace company’s stock worth $26,744,000 after purchasing an additional 541,831 shares in the last quarter. 81.50% of the stock is currently owned by institutional investors.
Several analysts have recently weighed in on TXT shares. Zacks Investment Research lowered Textron from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. BidaskClub lowered Textron from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Credit Suisse Group reissued a “buy” rating and set a $50.00 price objective on shares of Textron in a report on Wednesday, May 24th. Bank of America Corporation lowered Textron from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $53.00 to $45.00 in a report on Friday, July 21st. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $54.00 price objective (up previously from $52.00) on shares of Textron in a report on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $53.42.
Shares of Textron Inc. (TXT) opened at 51.19 on Tuesday. The company has a 50-day moving average price of $48.75 and a 200 day moving average price of $47.72. Textron Inc. has a 52 week low of $37.19 and a 52 week high of $51.19. The firm has a market cap of $13.55 billion, a price-to-earnings ratio of 15.65 and a beta of 1.56.
Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.57 billion. Textron had a return on equity of 11.97% and a net margin of 6.45%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. Analysts expect that Textron Inc. will post $2.53 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Thursday, September 14th. Textron’s dividend payout ratio is currently 2.45%.
Textron Company Profile
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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