Fishman Jay A Ltd. MI decreased its holdings in shares of Textron Inc. (NYSE:TXT) by 68.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,150 shares of the aerospace company’s stock after selling 22,500 shares during the period. Fishman Jay A Ltd. MI’s holdings in Textron were worth $497,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Parallel Advisors LLC raised its holdings in shares of Textron by 73.1% in the second quarter. Parallel Advisors LLC now owns 509 shares of the aerospace company’s stock worth $27,000 after buying an additional 215 shares during the period. Bessemer Group Inc. raised its stake in shares of Textron by 12.4% in the 2nd quarter. Bessemer Group Inc. now owns 1,991 shares of the aerospace company’s stock valued at $106,000 after acquiring an additional 220 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Textron by 18.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,057 shares of the aerospace company’s stock valued at $96,000 after acquiring an additional 326 shares during the period. LS Investment Advisors LLC raised its stake in shares of Textron by 4.4% in the 3rd quarter. LS Investment Advisors LLC now owns 7,802 shares of the aerospace company’s stock valued at $382,000 after acquiring an additional 330 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Textron by 23.6% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,805 shares of the aerospace company’s stock valued at $88,000 after acquiring an additional 345 shares during the period. Institutional investors own 82.98% of the company’s stock.
Shares of TXT stock traded down $0.52 during trading hours on Friday, reaching $46.61. 1,263,878 shares of the stock traded hands, compared to its average volume of 1,609,286. Textron Inc. has a 1-year low of $42.30 and a 1-year high of $58.00. The business has a fifty day moving average price of $48.05 and a 200 day moving average price of $49.02. The company has a quick ratio of 0.97, a current ratio of 2.15 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $10.80 billion, a PE ratio of 13.96, a PEG ratio of 1.39 and a beta of 1.73.
Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 17th. The aerospace company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.10. Textron had a net margin of 6.46% and a return on equity of 16.88%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. Research analysts expect that Textron Inc. will post 3.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.02 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.17%. Textron’s dividend payout ratio is currently 2.40%.
A number of research analysts have issued reports on TXT shares. ValuEngine raised shares of Textron from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Robert W. Baird reduced their target price on shares of Textron from $64.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Morgan Stanley boosted their target price on shares of Textron from $49.00 to $51.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Cowen reissued a “buy” rating and set a $60.00 target price on shares of Textron in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $54.25.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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