Baldwin Investment Management LLC Maintains Stake in Textron Inc. (TXT)
Baldwin Investment Management LLC maintained its position in Textron Inc. (NYSE:TXT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,200 shares of the aerospace company’s stock at the end of the second quarter. Baldwin Investment Management LLC’s holdings in Textron were worth $339,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cleararc Capital Inc. raised its position in shares of Textron by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,098 shares of the aerospace company’s stock worth $290,000 after buying an additional 16 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Textron by 0.8% in the second quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock worth $152,000 after buying an additional 26 shares during the last quarter. Intrust Bank NA raised its position in shares of Textron by 0.6% in the second quarter. Intrust Bank NA now owns 5,892 shares of the aerospace company’s stock worth $277,000 after buying an additional 33 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its position in shares of Textron by 1.6% in the second quarter. Canandaigua National Bank & Trust Co. now owns 4,815 shares of the aerospace company’s stock worth $227,000 after buying an additional 75 shares during the last quarter. Finally, YHB Investment Advisors Inc. raised its position in shares of Textron by 1.3% in the first quarter. YHB Investment Advisors Inc. now owns 7,398 shares of the aerospace company’s stock worth $345,000 after buying an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 81.50% of the company’s stock.
Textron Inc. (NYSE TXT) traded up 1.464% during mid-day trading on Wednesday, hitting $48.865. 129,468 shares of the stock were exchanged. Textron Inc. has a 52-week low of $37.19 and a 52-week high of $50.93. The firm has a market cap of $12.94 billion, a price-to-earnings ratio of 14.939 and a beta of 1.56. The company has a 50 day moving average price of $48.78 and a 200 day moving average price of $47.72.
Textron (NYSE:TXT) last posted its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating 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 return on equity of 11.97% and a net margin of 6.45%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. On average, analysts anticipate that Textron Inc. will post $2.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th 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 0.17%. The ex-dividend date of this dividend is Thursday, September 14th. Textron’s dividend payout ratio (DPR) is 2.45%.
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A number of research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Textron from $45.00 to $47.00 and gave the company an “underweight” rating in a research note on Thursday, August 17th. BidaskClub lowered shares of Textron from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Wells Fargo & Co restated an “outperform” rating and set a $54.00 price target (up previously from $52.00) on shares of Textron in a research note on Saturday, July 22nd. Bank of America Corporation lowered shares of Textron from a “buy” rating to an “underperform” rating and cut their price target for the company from $53.00 to $45.00 in a research note on Friday, July 21st. Finally, Credit Suisse Group restated an “outperform” rating and set a $55.00 price target (up previously from $50.00) on shares of Textron in a research note on Thursday, July 20th. Three 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. The company has a consensus rating of “Hold” and a consensus price target of $53.00.
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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