Renaissance Technologies LLC raised its position in Textron Inc. (NYSE:TXT) by 303.3% during the fourth quarter, Holdings Channel reports. The firm owned 1,243,400 shares of the aerospace company’s stock after buying an additional 935,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Textron were worth $70,364,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. Scotia Capital Inc. increased its position in shares of Textron by 39.3% in the 4th quarter. Scotia Capital Inc. now owns 12,797 shares of the aerospace company’s stock valued at $724,000 after purchasing an additional 3,613 shares during the last quarter. ETRADE Capital Management LLC grew its position in shares of Textron by 13.4% in the 4th quarter. ETRADE Capital Management LLC now owns 10,805 shares of the aerospace company’s stock valued at $612,000 after buying an additional 1,274 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its position in shares of Textron by 139.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 326,875 shares of the aerospace company’s stock valued at $18,497,000 after buying an additional 190,088 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Textron in the 4th quarter valued at $218,000. Finally, Geode Capital Management LLC grew its position in shares of Textron by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 2,808,587 shares of the aerospace company’s stock valued at $158,610,000 after buying an additional 77,781 shares during the last quarter. 83.27% of the stock is currently owned by institutional investors.
TXT has been the topic of a number of recent analyst reports. Cowen reaffirmed a “buy” rating and issued a $70.00 target price on shares of Textron in a research report on Thursday, February 1st. ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Jefferies Group reaffirmed a “buy” rating and issued a $74.00 target price on shares of Textron in a research report on Sunday, February 4th. Morgan Stanley raised shares of Textron from an “underweight” rating to an “equal weight” rating and set a $47.00 target price on the stock in a research report on Thursday, February 1st. Finally, Zacks Investment Research upgraded shares of Textron from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Textron presently has an average rating of “Hold” and an average price target of $60.50.
Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 31st. The aerospace company reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.03). Textron had a return on equity of 11.58% and a net margin of 2.16%. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. analysts forecast that Textron Inc. will post 3.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.13%. The ex-dividend date is Thursday, March 8th. Textron’s dividend payout ratio (DPR) is presently 7.02%.
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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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