Cubist Systematic Strategies LLC Buys New Holdings in Textron Inc. (TXT)
Cubist Systematic Strategies LLC bought a new position in shares of Textron Inc. (NYSE:TXT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 14,902 shares of the aerospace company’s stock, valued at approximately $702,000.
Other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. increased 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 acquiring an additional 1,043 shares during the last quarter. Global X Management Co. LLC increased 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 acquiring an additional 607 shares during the last quarter. Parkside Financial Bank & Trust increased 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 acquiring an additional 26 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of Textron during the 1st quarter worth approximately $210,000. Finally, Canandaigua National Bank & Trust Co. increased its holdings in shares of Textron by 1.6% during the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 4,815 shares of the aerospace company’s stock worth $227,000 after acquiring an additional 75 shares during the last quarter. 81.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Textron Inc. (TXT) opened at 53.57 on Thursday. Textron Inc. has a 1-year low of $37.19 and a 1-year high of $55.80. The company has a 50-day moving average price of $52.57 and a 200 day moving average price of $48.91. The company has a market capitalization of $14.18 billion, a P/E ratio of 16.38 and a beta of 1.59.
Textron (NYSE:TXT) last released its earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.03. Textron had a return on equity of 11.97% and a net margin of 6.45%. Equities research analysts anticipate that Textron Inc. will post $2.52 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 15th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date was Thursday, September 14th. Textron’s dividend payout ratio is currently 2.45%.
A number of research firms recently weighed in on TXT. ValuEngine lowered Textron from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research lowered Textron from a “buy” rating to a “hold” rating in a report on Thursday, October 12th. Stephens reissued an “equal weight” rating and set a $63.00 target price (up from $54.00) on shares of Textron in a report on Friday, October 13th. Jefferies Group LLC reissued a “buy” rating and set a $60.00 target price on shares of Textron in a report on Tuesday, September 26th. Finally, BidaskClub lowered Textron from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $54.50.
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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