Oppenheimer & Co. Inc. Has $226,000 Position in Textron Inc. (NYSE:TXT)
Oppenheimer & Co. Inc. cut its stake in shares of Textron Inc. (NYSE:TXT) by 4.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,759 shares of the aerospace company’s stock after selling 200 shares during the period. Oppenheimer & Co. Inc.’s holdings in Textron were worth $226,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of TXT. Vanguard Group Inc. boosted its stake in shares of Textron by 3.4% in the first quarter. Vanguard Group Inc. now owns 24,537,994 shares of the aerospace company’s stock worth $1,167,763,000 after buying an additional 812,940 shares during the period. BlackRock Inc. boosted its stake in shares of Textron by 3,689.9% in the first quarter. BlackRock Inc. now owns 17,144,765 shares of the aerospace company’s stock worth $815,921,000 after buying an additional 16,692,390 shares during the period. American Century Companies Inc. boosted its stake in shares of Textron by 8.7% in the first quarter. American Century Companies Inc. now owns 5,204,734 shares of the aerospace company’s stock worth $247,693,000 after buying an additional 415,861 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Textron by 17.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,503,099 shares of the aerospace company’s stock worth $166,712,000 after buying an additional 524,664 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Textron by 33.8% in the first quarter. Victory Capital Management Inc. now owns 2,927,970 shares of the aerospace company’s stock worth $139,342,000 after buying an additional 739,374 shares during the period. Institutional investors own 82.67% of the company’s stock.
Shares of Textron Inc. (TXT) traded down 0.65% during trading on Thursday, hitting $49.04. 1,011,735 shares of the stock were exchanged. The stock’s 50 day moving average price is $47.98 and its 200 day moving average price is $47.66. The stock has a market cap of $12.98 billion, a PE ratio of 17.27 and a beta of 1.56. Textron Inc. has a one year low of $37.19 and a one year high of $50.93.
Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Textron had a net margin of 6.45% and a return on equity of 11.97%. Textron’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. Equities research analysts predict that Textron Inc. will post $2.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. Textron’s dividend payout ratio (DPR) is presently 2.45%.
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A number of equities research analysts recently issued reports on TXT shares. Credit Suisse Group reaffirmed a “buy” rating and set a $50.00 target price on shares of Textron in a research note on Wednesday, May 24th. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 target price on shares of Textron in a research note on Thursday, May 18th. Bank of America Corporation lowered shares of Textron from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $53.00 to $45.00 in a research note on Friday, July 21st. BidaskClub lowered shares of Textron from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Stephens initiated coverage on shares of Textron in a research note on Thursday, April 13th. They issued an “equal weight” rating and a $54.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $53.60.
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. The Textron Aviation segment is engaged in general aviation.
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