LS Investment Advisors LLC Has $544,000 Position in Textron Inc. (TXT)
LS Investment Advisors LLC raised its stake in shares of Textron Inc. (NYSE:TXT) by 5.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,556 shares of the aerospace company’s stock after buying an additional 636 shares during the period. LS Investment Advisors LLC’s holdings in Textron were worth $544,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Textron during the fourth quarter valued at $271,000. Kentucky Retirement Systems acquired a new stake in Textron during the fourth quarter valued at $952,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Textron during the fourth quarter valued at $425,000. Searle & CO. purchased a new position in shares of Textron during the fourth quarter valued at approximately $277,000. Finally, Macquarie Group Ltd. raised its position in shares of Textron by 5.2% in the fourth quarter. Macquarie Group Ltd. now owns 10,200 shares of the aerospace company’s stock valued at $496,000 after buying an additional 500 shares during the period. 83.55% of the stock is currently owned by hedge funds and other institutional investors.
Textron Inc. (TXT) traded up 0.18% on Monday, hitting $49.40. The stock had a trading volume of 857,975 shares. The stock’s 50-day moving average is $47.98 and its 200 day moving average is $47.66. Textron Inc. has a 1-year low of $37.19 and a 1-year high of $50.93. The firm has a market capitalization of $13.08 billion, a price-to-earnings ratio of 15.10 and a beta of 1.56.
Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. Textron had a return on equity of 11.97% and a net margin of 6.45%. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Textron’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Textron Inc. will post $2.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.16%. Textron’s dividend payout ratio is currently 2.45%.
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TXT has been the topic of several recent research reports. Credit Suisse Group reiterated an “outperform” rating and set a $55.00 price objective (up from $50.00) on shares of Textron in a research report on Thursday, July 20th. Zacks Investment Research lowered Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. BidaskClub lowered Textron from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Cowen and Company reiterated an “outperform” rating and issued a $60.00 price objective on shares of Textron in a report on Saturday, April 22nd. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $54.00 price objective (up previously from $52.00) on shares of Textron in a report on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price 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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