BT Investment Management Ltd Acquires Shares of 15,395 Textron Inc. (TXT)
BT Investment Management Ltd acquired a new stake in Textron Inc. (NYSE:TXT) during the third quarter, according to its most recent filing with the SEC. The firm acquired 15,395 shares of the aerospace company’s stock, valued at approximately $833,000.
Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in Textron by 66.7% in the 2nd quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after buying an additional 1,043 shares during the last quarter. Global X Management Co. LLC lifted its holdings in Textron by 16.5% in the second quarter. Global X Management Co. LLC now owns 3,053 shares of the aerospace company’s stock valued at $144,000 after acquiring an additional 433 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Textron by 0.8% in the second quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock valued at $152,000 after acquiring an additional 26 shares during the period. WASHINGTON TRUST Co acquired a new stake in Textron in the third quarter valued at $211,000. Finally, Heartland Advisors Inc. acquired a new stake in Textron in the third quarter valued at $211,000. Hedge funds and other institutional investors own 81.94% of the company’s stock.
Textron Inc. (NYSE:TXT) opened at $54.40 on Friday. The stock has a market capitalization of $14,448.61, a price-to-earnings ratio of 21.85, a PEG ratio of 2.52 and a beta of 1.58. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.96 and a current ratio of 2.08. Textron Inc. has a one year low of $43.20 and a one year high of $55.80.
Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.03. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 EPS. research analysts forecast that Textron Inc. will post 2.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Thursday, December 14th. Textron’s dividend payout ratio is presently 3.45%.
A number of equities research analysts have commented on TXT shares. Jefferies Group LLC reissued a “buy” rating and issued a $60.00 target price on shares of Textron in a report on Tuesday, September 26th. Zacks Investment Research raised Textron from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Thursday, September 21st. Drexel Hamilton raised Textron from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Monday, September 11th. ValuEngine raised Textron from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Finally, Cowen and Company reissued a “buy” rating and issued a $60.00 target price on shares of Textron in a report on Thursday, October 19th. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $56.92.
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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