Westpac Banking Corp continued to hold its stake in shares of Textron Inc. (NYSE:TXT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,382 shares of the aerospace company’s stock at the end of the 2nd quarter. Westpac Banking Corp’s holdings in Textron were worth $772,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. raised its stake in shares of Textron by 66.7% in the second quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after buying an additional 1,043 shares during the period. Global X Management Co. LLC raised its stake in shares of Textron by 30.2% in the first quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock valued at $125,000 after buying an additional 607 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Textron by 0.8% in the second quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock valued at $152,000 after buying an additional 26 shares during the period. Koch Industries Inc. bought a new stake in shares of Textron in the first quarter valued at $203,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Textron in the first quarter valued at $210,000. Hedge funds and other institutional investors own 81.50% of the company’s stock.
Shares of Textron Inc. (NYSE TXT) opened at 51.19 on Tuesday. Textron Inc. has a 1-year low of $37.19 and a 1-year high of $51.19. The company’s 50 day moving average price is $48.75 and its 200-day moving average price is $47.72. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 15.65 and a beta of 1.56.
Textron (NYSE:TXT) last released its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The company 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%. Textron’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. On average, equities analysts forecast that Textron Inc. will post $2.53 earnings per share for the current year.
The business also recently announced 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. The ex-dividend date is Thursday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.16%. Textron’s dividend payout ratio (DPR) is presently 2.45%.
Several brokerages have issued reports on TXT. Zacks Investment Research upgraded Textron from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Tuesday, July 18th. BidaskClub lowered Textron from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. ValuEngine upgraded Textron from a “hold” rating to a “buy” rating in a research note on Friday. Drexel Hamilton upgraded Textron from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Monday. Finally, Morgan Stanley boosted their target price on Textron from $45.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, August 17th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $53.42.
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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