U S Global Investors Inc. Has $3.53 Million Holdings in Textron Inc. (TXT)
U S Global Investors Inc. trimmed its stake in Textron Inc. (NYSE:TXT) by 15.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,605 shares of the aerospace company’s stock after selling 11,533 shares during the quarter. Textron accounts for 1.0% of U S Global Investors Inc.’s portfolio, making the stock its 18th biggest holding. U S Global Investors Inc.’s holdings in Textron were worth $3,534,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in TXT. Invictus RG bought a new position in shares of Textron during the third quarter valued at $115,000. Bessemer Group Inc. lifted its holdings in shares of Textron by 66.7% during the second quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after purchasing an additional 1,043 shares in the last quarter. Global X Management Co. LLC lifted its holdings in shares of Textron by 16.5% during the second quarter. Global X Management Co. LLC now owns 3,053 shares of the aerospace company’s stock valued at $144,000 after purchasing an additional 433 shares in the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in shares of Textron during the third quarter valued at $201,000. Finally, BB&T Securities LLC bought a new position in shares of Textron during the third quarter valued at $203,000. 82.03% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the company. Jefferies Group reaffirmed a “buy” rating and set a $60.00 price target on shares of Textron in a report on Tuesday, September 26th. ValuEngine downgraded Textron from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Cowen reaffirmed a “buy” rating and set a $60.00 price target on shares of Textron in a report on Tuesday, November 28th. Stephens reiterated an “equal weight” rating and set a $63.00 price objective (up previously from $54.00) on shares of Textron in a research report on Friday, October 13th. Finally, Morgan Stanley upped their price objective on Textron from $45.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, August 17th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $57.82.
Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. Textron’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. equities research analysts anticipate that Textron Inc. will post 2.47 EPS for the current fiscal year.
The company 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 is Thursday, December 14th. Textron’s dividend payout ratio (DPR) is presently 3.45%.
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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