Gargoyle Investment Advisor L.L.C. continued to hold its position in shares of Textron Inc. (NYSE:TXT) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,883 shares of the company’s stock at the end of the second quarter. Gargoyle Investment Advisor L.L.C.’s holdings in Textron were worth $2,372,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in TXT. State Street Corp raised its position in shares of Textron by 1.4% in the first quarter. State Street Corp now owns 10,135,736 shares of the company’s stock worth $369,558,000 after buying an additional 143,285 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Textron by 4.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,242,145 shares of the company’s stock worth $264,049,000 after buying an additional 312,668 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Textron by 1.4% in the first quarter. Geode Capital Management LLC now owns 2,250,485 shares of the company’s stock worth $81,888,000 after buying an additional 31,559 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of Textron by 11.2% in the first quarter. Teachers Advisors Inc. now owns 1,830,215 shares of the company’s stock worth $66,730,000 after buying an additional 184,968 shares during the last quarter. Finally, Prudential PLC raised its position in shares of Textron by 13.0% in the first quarter. Prudential PLC now owns 1,673,800 shares of the company’s stock worth $61,027,000 after buying an additional 192,600 shares during the last quarter. Institutional investors own 80.63% of the company’s stock.
Textron Inc. (NYSE:TXT) traded up 0.33% on Monday, hitting $39.88. 790,551 shares of the stock traded hands. Textron Inc. has a 1-year low of $30.69 and a 1-year high of $43.93. The stock has a 50-day moving average price of $40.18 and a 200 day moving average price of $38.54. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 15.05 and a beta of 1.65.
Textron (NYSE:TXT) last released its quarterly earnings data on Friday, July 22nd. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. The company earned $3.50 billion during the quarter, compared to analyst estimates of $3.36 billion. Textron had a net margin of 5.28% and a return on equity of 14.72%. Textron’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. On average, analysts anticipate that Textron Inc. will post $2.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were paid a $0.02 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $0.08 annualized dividend and a dividend yield of 0.20%. Textron’s dividend payout ratio is currently 3.02%.
A number of equities analysts have recently issued reports on TXT shares. Credit Suisse Group AG reiterated a “buy” rating on shares of Textron in a research report on Wednesday, August 31st. Morgan Stanley initiated coverage on shares of Textron in a research note on Thursday, June 23rd. They set an “underweight” rating and a $39.00 price target for the company. Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “sell” rating in a research note on Friday, September 2nd. Jefferies Group reissued a “buy” rating and set a $50.00 price target on shares of Textron in a research note on Wednesday, August 31st. Finally, Bank of America Corp. set a $45.00 price target on shares of Textron and gave the stock a “buy” rating in a research note on Monday, July 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $46.62.
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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