WASHINGTON TRUST Co bought a new stake in Textron Inc. (NYSE:TXT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,911 shares of the aerospace company’s stock, valued at approximately $211,000.
Several other hedge funds also recently bought and sold shares of TXT. MRJ Capital Inc. purchased a new stake in Textron in the second quarter worth $3,589,000. Airain ltd purchased a new position in shares of Textron in the second quarter valued at $2,608,000. Highbridge Capital Management LLC grew its position in shares of Textron by 153.1% in the first quarter. Highbridge Capital Management LLC now owns 5,308 shares of the aerospace company’s stock valued at $253,000 after purchasing an additional 15,308 shares in the last quarter. NBT Bank N A NY grew its position in Textron by 0.8% during the second quarter. NBT Bank N A NY now owns 19,598 shares of the aerospace company’s stock worth $923,000 after buying an additional 158 shares in the last quarter. Finally, Boston Advisors LLC grew its position in Textron by 0.7% during the second quarter. Boston Advisors LLC now owns 243,512 shares of the aerospace company’s stock worth $11,469,000 after buying an additional 1,680 shares in the last quarter. Institutional investors own 81.94% of the company’s stock.
Shares of Textron Inc. (NYSE:TXT) opened at $54.48 on Monday. The firm has a market cap of $14,369.58, a P/E ratio of 21.73, a PEG ratio of 2.51 and a beta of 1.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.96 and a current ratio of 2.08. Textron Inc. has a 12 month low of $39.01 and a 12 month high of $55.80.
Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. Textron had a net margin of 4.48% and a return on equity of 12.02%. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period in the previous year, the company earned $0.61 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. sell-side analysts expect that Textron Inc. will post 2.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. Textron’s dividend payout ratio is presently 3.45%.
Several brokerages have issued reports on TXT. Zacks Investment Research raised Textron from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st. Jefferies Group LLC restated a “buy” rating and set a $65.00 price target on shares of Textron in a report on Friday, October 20th. Credit Suisse Group reduced their price target on Textron from $61.00 to $59.00 and set an “outperform” rating on the stock in a report on Friday, October 20th. Wells Fargo & Company upped their target price on Textron from $54.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Finally, Citigroup Inc. upped their price target on Textron from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Textron currently has an average rating of “Hold” and an average price target of $56.92.
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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