LSV Asset Management Increases Stake in Textron Inc. (TXT)
LSV Asset Management boosted its position in Textron Inc. (NYSE:TXT) by 10.3% during the third quarter, Holdings Channel reports. The firm owned 1,613,497 shares of the company’s stock after buying an additional 151,300 shares during the period. LSV Asset Management’s holdings in Textron were worth $64,136,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of TXT. FTB Advisors Inc. raised its position in shares of Textron by 7.7% in the third quarter. FTB Advisors Inc. now owns 3,050 shares of the company’s stock worth $115,000 after buying an additional 218 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Textron by 225.8% in the second quarter. Meeder Asset Management Inc. now owns 3,323 shares of the company’s stock worth $121,000 after buying an additional 2,303 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its position in shares of Textron by 107.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,561 shares of the company’s stock worth $130,000 after buying an additional 1,841 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Textron by 9.3% in the second quarter. Pacer Advisors Inc. now owns 5,440 shares of the company’s stock worth $199,000 after buying an additional 464 shares in the last quarter. Finally, Creative Planning raised its position in shares of Textron by 24.7% in the second quarter. Creative Planning now owns 5,485 shares of the company’s stock worth $201,000 after buying an additional 1,087 shares in the last quarter. 80.44% of the stock is owned by institutional investors.
Textron Inc. (NYSE:TXT) opened at 46.20 on Wednesday. Textron Inc. has a 52-week low of $30.69 and a 52-week high of $46.20. The company’s 50 day moving average price is $41.17 and its 200 day moving average price is $39.49. The company has a market cap of $12.48 billion, a P/E ratio of 12.96 and a beta of 1.77.
Textron (NYSE:TXT) last released its earnings results on Thursday, October 20th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by $0.05. Textron had a return on equity of 13.85% and a net margin of 7.01%. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The business’s revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Textron Inc. will post $2.70 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 9th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $0.08 annualized dividend and a yield of 0.17%. Textron’s dividend payout ratio is 2.24%.
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A number of brokerages have recently commented on TXT. Credit Suisse Group AG reissued a “buy” rating on shares of Textron in a report on Wednesday, August 31st. Drexel Hamilton reissued a “hold” rating on shares of Textron in a report on Wednesday, August 31st. Zacks Investment Research lowered Textron from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Vertical Research initiated coverage on Textron in a report on Friday, October 28th. They issued a “buy” rating and a $46.00 target price on the stock. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $50.00 target price on shares of Textron in a report on Wednesday, August 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $46.68.
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. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.
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