Nisa Investment Advisors LLC reduced its position in shares of Textron Inc. (NYSE:TXT) by 19.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 83,175 shares of the aerospace company’s stock after selling 20,428 shares during the period. Nisa Investment Advisors LLC’s holdings in Textron were worth $3,918,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cleararc Capital Inc. boosted its position in Textron by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,098 shares of the aerospace company’s stock worth $290,000 after buying an additional 16 shares in the last quarter. YHB Investment Advisors Inc. boosted its stake in Textron by 1.3% in the first quarter. YHB Investment Advisors Inc. now owns 7,398 shares of the aerospace company’s stock valued at $345,000 after buying an additional 98 shares during the period. Meadow Creek Investment Management LLC boosted its stake in Textron by 2.2% in the first quarter. Meadow Creek Investment Management LLC now owns 5,840 shares of the aerospace company’s stock valued at $278,000 after buying an additional 128 shares during the period. Cadence Capital Management LLC boosted its stake in Textron by 1.7% in the first quarter. Cadence Capital Management LLC now owns 7,952 shares of the aerospace company’s stock valued at $378,000 after buying an additional 135 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Textron by 3.3% in the first quarter. Pacer Advisors Inc. now owns 5,209 shares of the aerospace company’s stock valued at $248,000 after buying an additional 165 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.
Shares of Textron Inc. (NYSE:TXT) traded up 0.22% during midday trading on Friday, reaching $49.15. The company had a trading volume of 207,836 shares. The company has a 50-day moving average price of $47.98 and a 200 day moving average price of $47.66. The company has a market capitalization of $13.01 billion, a P/E ratio of 15.03 and a beta of 1.56. Textron Inc. has a one year low of $37.19 and a one year high of $50.93.
Textron (NYSE:TXT) last posted its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. Textron had a return on equity of 11.97% and a net margin of 6.45%. 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 EPS. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts anticipate that Textron Inc. will post $2.52 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Thursday, September 14th. Textron’s dividend payout ratio (DPR) is presently 2.45%.
Several analysts have recently weighed in on the company. BidaskClub cut Textron from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Zacks Investment Research cut Textron from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $54.00 price objective (up from $52.00) on shares of Textron in a research note on Saturday, July 22nd. Cowen and Company reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Textron in a research note on Saturday, April 22nd. Finally, Stephens initiated coverage on Textron in a research note on Thursday, April 13th. They issued an “equal weight” rating and a $54.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $53.60.
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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