Pacer Advisors Inc. grew its holdings in Textron Inc. (NYSE:TXT) by 10.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,249 shares of the aerospace company’s stock after purchasing an additional 2,338 shares during the period. Pacer Advisors Inc.’s holdings in Textron were worth $1,236,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Cerebellum GP LLC acquired a new position in Textron during the third quarter worth $133,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in Textron by 3,878.0% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,978 shares of the aerospace company’s stock worth $193,000 after acquiring an additional 3,878 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Textron by 108.1% during the third quarter. State of Alaska Department of Revenue now owns 128,339 shares of the aerospace company’s stock worth $6,282,000 after acquiring an additional 66,662 shares in the last quarter. Boston Partners raised its stake in Textron by 8.7% during the second quarter. Boston Partners now owns 1,145,878 shares of the aerospace company’s stock worth $60,779,000 after acquiring an additional 91,789 shares in the last quarter. Finally, Primecap Management Co. CA grew its holdings in shares of Textron by 4.1% during the second quarter. Primecap Management Co. CA now owns 5,509,660 shares of the aerospace company’s stock worth $292,232,000 after purchasing an additional 217,300 shares during the last quarter. Institutional investors own 82.98% of the company’s stock.
Textron stock traded down $0.52 during midday trading on Friday, reaching $46.61. The stock had a trading volume of 1,263,878 shares, compared to its average volume of 1,609,286. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.97 and a current ratio of 2.15. The firm’s fifty day simple moving average is $48.05 and its 200-day simple moving average is $49.02. The stock has a market capitalization of $10.80 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.39 and a beta of 1.73. Textron Inc. has a 1-year low of $42.30 and a 1-year high of $58.00.
Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 17th. The aerospace company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.10. Textron had a return on equity of 16.88% and a net margin of 6.46%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the company earned $0.61 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Textron Inc. will post 3.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.17%. Textron’s dividend payout ratio is currently 2.40%.
Several research firms recently issued reports on TXT. Bank of America cut Textron from a “buy” rating to a “neutral” rating in a report on Tuesday, October 22nd. Cowen reiterated a “buy” rating and issued a $60.00 price target on shares of Textron in a report on Thursday, October 17th. Vertical Research cut Textron from a “buy” rating to a “hold” rating and decreased their price target for the company from $56.00 to $54.00 in a report on Friday, September 27th. Credit Suisse Group reduced their target price on Textron from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Finally, ValuEngine upgraded Textron from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.25.
Textron Company Profile
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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