Nissay Asset Management Corp Japan ADV boosted its stake in shares of Textron Inc. (NYSE:TXT) by 20.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,613 shares of the aerospace company’s stock after purchasing an additional 4,309 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Textron were worth $843,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of TXT. Parallel Advisors LLC raised its position in Textron by 218.6% during the first quarter. Parallel Advisors LLC now owns 1,131 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 776 shares during the period. Signaturefd LLC raised its position in Textron by 72.0% during the first quarter. Signaturefd LLC now owns 1,206 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 505 shares during the period. Oppenheimer Asset Management Inc. raised its position in Textron by 40.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 1,363 shares of the aerospace company’s stock valued at $36,000 after purchasing an additional 394 shares during the period. Flagship Harbor Advisors LLC raised its position in Textron by 2,286.2% during the first quarter. Flagship Harbor Advisors LLC now owns 1,384 shares of the aerospace company’s stock valued at $37,000 after purchasing an additional 1,326 shares during the period. Finally, Bessemer Group Inc. raised its position in Textron by 44.4% during the first quarter. Bessemer Group Inc. now owns 1,464 shares of the aerospace company’s stock valued at $39,000 after purchasing an additional 450 shares during the period. Institutional investors own 82.77% of the company’s stock.
A number of brokerages have issued reports on TXT. Citigroup downgraded Textron from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $60.00 to $30.00 in a research report on Monday, April 20th. Credit Suisse Group decreased their price objective on Textron from $51.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, May 1st. ValuEngine upgraded Textron from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Barclays increased their price objective on Textron from $26.00 to $37.00 and gave the company an “equal weight” rating in a report on Tuesday, June 16th. Finally, Alembic Global Advisors lowered Textron from an “overweight” rating to a “neutral” rating and set a $33.00 price objective for the company. in a report on Monday, April 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Textron has an average rating of “Hold” and an average price target of $41.10.
Textron (NYSE:TXT) last announced its earnings results on Thursday, July 30th. The aerospace company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.28. Textron had a return on equity of 10.60% and a net margin of 3.01%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the company posted $0.93 EPS. The business’s quarterly revenue was down 23.4% on a year-over-year basis. As a group, equities research analysts expect that Textron Inc. will post 1.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 11th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Thursday, September 10th. Textron’s dividend payout ratio is presently 2.14%.
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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