Textron Inc. (TXT) Position Increased by Employees Retirement System of Texas
Employees Retirement System of Texas increased its position in shares of Textron Inc. (NYSE:TXT) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,000 shares of the aerospace company’s stock after buying an additional 6,000 shares during the period. Employees Retirement System of Texas’ holdings in Textron were worth $5,652,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of TXT. Bessemer Group Inc. boosted its holdings in shares of Textron by 66.7% during the 2nd quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock worth $123,000 after buying an additional 1,043 shares during the period. Global X Management Co. LLC boosted its holdings in shares of Textron by 30.2% during the 1st quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock worth $125,000 after buying an additional 607 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Textron by 0.8% during the 2nd 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 period. Koch Industries Inc. bought a new stake in shares of Textron during the 1st quarter worth $203,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Textron during the 1st quarter worth $210,000. 81.49% of the stock is owned by institutional investors and hedge funds.
Textron Inc. (NYSE TXT) opened at 55.11 on Thursday. The stock’s 50 day moving average is $50.84 and its 200-day moving average is $48.40. The company has a market capitalization of $14.59 billion, a P/E ratio of 16.85 and a beta of 1.59. Textron Inc. has a 12-month low of $37.19 and a 12-month high of $55.11.
Textron (NYSE:TXT) last announced its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. The company had revenue of $3.60 billion during 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 quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 earnings per share. On average, equities analysts predict that Textron Inc. will post $2.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 15th were given a $0.02 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. Textron’s payout ratio is presently 2.45%.
Several research firms recently issued reports on TXT. BidaskClub downgraded shares of Textron from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. ValuEngine downgraded shares of Textron from a “buy” rating to a “hold” rating in a report on Monday. Wells Fargo & Company reissued an “outperform” rating and issued a $54.00 price target (up from $52.00) on shares of Textron in a report on Saturday, July 22nd. Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, July 18th. Finally, Morgan Stanley increased their price target on shares of Textron from $45.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday, August 17th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $53.75.
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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