Scout Investments Inc. trimmed its position in Textron Inc. (NYSE:TXT) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,264 shares of the aerospace company’s stock after selling 4,300 shares during the quarter. Scout Investments Inc. owned approximately 0.16% of Textron worth $16,202,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors L.P. lifted its position in Textron by 11.9% during the second quarter. Natixis Advisors L.P. now owns 76,651 shares of the aerospace company’s stock valued at $4,066,000 after purchasing an additional 8,171 shares during the last quarter. Cibc World Markets Corp boosted its position in Textron by 23.4% during the second quarter. Cibc World Markets Corp now owns 48,546 shares of the aerospace company’s stock valued at $2,575,000 after buying an additional 9,198 shares during the period. Strategic Global Advisors LLC purchased a new position in Textron during the 2nd quarter valued at about $287,000. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Textron by 0.7% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 89,491 shares of the aerospace company’s stock valued at $4,747,000 after acquiring an additional 600 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in Textron by 9.4% in the second quarter. Parametric Portfolio Associates LLC now owns 759,714 shares of the aerospace company’s stock worth $40,295,000 after acquiring an additional 65,540 shares during the period. Institutional investors own 84.52% of the company’s stock.
Several equities research analysts recently weighed in on the company. Cowen restated a “buy” rating and set a $60.00 price target on shares of Textron in a research report on Thursday, December 12th. Zacks Investment Research lowered shares of Textron from a “hold” rating to a “strong sell” rating and set a $50.00 target price for the company. in a report on Friday, October 25th. Bank of America lowered Textron from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price target on Textron from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Finally, Barclays reaffirmed a “buy” rating and issued a $57.00 target price on shares of Textron in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $54.00.
NYSE:TXT opened at $45.34 on Thursday. The business’s 50-day moving average is $44.88 and its 200 day moving average is $47.35. Textron Inc. has a 12 month low of $42.30 and a 12 month high of $58.00. The company has a current ratio of 2.15, a quick ratio of 0.97 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $10.35 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.32 and a beta of 1.69.
Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 17th. The aerospace company reported $0.95 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the business posted $0.61 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. On average, research analysts forecast that Textron Inc. will post 3.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.18%. The ex-dividend date was Thursday, December 12th. Textron’s dividend payout ratio is presently 2.40%.
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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