Laurion Capital Management LP Acquires 42,424 Shares of Textron Inc. (TXT)
Laurion Capital Management LP lifted its holdings in Textron Inc. (NYSE:TXT) by 273.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,924 shares of the aerospace company’s stock after purchasing an additional 42,424 shares during the quarter. Laurion Capital Management LP’s holdings in Textron were worth $2,728,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. MRJ Capital Inc. purchased a new position in Textron during the second quarter worth $3,589,000. Airain ltd purchased a new position in Textron during the second quarter worth $2,608,000. Bank of Nova Scotia boosted its stake in Textron by 939.6% during the first quarter. Bank of Nova Scotia now owns 61,719 shares of the aerospace company’s stock worth $2,937,000 after buying an additional 55,782 shares during the period. Highbridge Capital Management LLC boosted its stake in Textron by 153.1% during the first quarter. Highbridge Capital Management LLC now owns 5,308 shares of the aerospace company’s stock worth $253,000 after buying an additional 15,308 shares during the period. Finally, Mason Street Advisors LLC boosted its stake in Textron by 1.0% during the first quarter. Mason Street Advisors LLC now owns 37,324 shares of the aerospace company’s stock worth $1,776,000 after buying an additional 361 shares during the period. 81.49% of the stock is owned by hedge funds and other institutional investors.
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Several research analysts have commented on the stock. Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, July 18th. BidaskClub lowered shares of Textron from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Drexel Hamilton raised shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Monday, September 11th. ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Finally, Morgan Stanley lifted their price objective on shares of Textron from $45.00 to $47.00 and gave the stock an “underweight” rating in a research note on Thursday, August 17th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $53.42.
Shares of Textron Inc. (TXT) opened at 52.74 on Wednesday. Textron Inc. has a 52-week low of $37.19 and a 52-week high of $52.89. The stock’s 50 day moving average price is $49.37 and its 200 day moving average price is $47.92. The company has a market capitalization of $13.96 billion, a P/E ratio of 16.12 and a beta of 1.56.
Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. The business had revenue of $3.60 billion during 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 company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. On average, equities research analysts forecast that Textron Inc. will post $2.53 earnings per share for the current fiscal 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 0.15%. The ex-dividend date is Thursday, September 14th. Textron’s dividend payout ratio is presently 2.45%.
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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