FTB Advisors Inc. Holds Holdings in Textron Inc. (TXT)
FTB Advisors Inc. held its stake in Textron Inc. (NYSE:TXT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,784 shares of the aerospace company’s stock at the end of the second quarter. FTB Advisors Inc.’s holdings in Textron were worth $135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Bessemer Group Inc. lifted its position in Textron by 66.7% in the second quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock worth $123,000 after purchasing an additional 1,043 shares during the period. Global X Management Co. LLC lifted its position in Textron by 30.2% in the first quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock worth $125,000 after purchasing an additional 607 shares during the period. Parkside Financial Bank & Trust lifted its position in 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 purchasing an additional 26 shares during the period. Koch Industries Inc. acquired a new stake in Textron in the first quarter worth approximately $203,000. Finally, Two Sigma Securities LLC acquired a new stake in Textron in the first quarter worth approximately $210,000. 81.49% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on TXT. ValuEngine downgraded Textron from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Jefferies Group LLC restated a “buy” rating and issued a $60.00 target price on shares of Textron in a research report on Tuesday, September 26th. BidaskClub downgraded Textron from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Morgan Stanley upped their target price on Textron from $45.00 to $47.00 and gave the stock an “underweight” rating in a research report on Thursday, August 17th. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $54.00 target price (up from $52.00) on shares of Textron in a research report on Saturday, July 22nd. 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 company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $53.75.
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Shares of Textron Inc. (NYSE TXT) traded down 0.05% during midday trading on Monday, hitting $55.46. The stock had a trading volume of 72,855 shares. The stock has a market cap of $14.68 billion, a PE ratio of 16.96 and a beta of 1.59. The stock has a 50-day moving average of $51.24 and a 200 day moving average of $48.50. Textron Inc. has a 52 week low of $37.19 and a 52 week high of $55.80.
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, beating analysts’ consensus estimates of $0.55 by $0.05. Textron had a net margin of 6.45% and a return on equity of 11.97%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts anticipate that Textron Inc. will post $2.53 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 15th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.14%. Textron’s payout ratio is presently 2.45%.
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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