Daiwa Securities Group Inc. held its stake in Textron Inc. (NYSE:TXT) during the second quarter, according to its most recent filing with the SEC. The fund owned 7,950 shares of the aerospace company’s stock at the end of the second quarter. Daiwa Securities Group Inc.’s holdings in Textron were worth $374,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Bank of Nova Scotia boosted its stake in Textron by 939.6% in the first quarter. Bank of Nova Scotia now owns 61,719 shares of the aerospace company’s stock valued at $2,937,000 after buying an additional 55,782 shares during the period. Highbridge Capital Management LLC boosted its stake in Textron by 153.1% in the first quarter. Highbridge Capital Management LLC now owns 5,308 shares of the aerospace company’s stock valued at $253,000 after buying an additional 15,308 shares during the period. Mason Street Advisors LLC boosted its stake in Textron by 1.0% in the first quarter. Mason Street Advisors LLC now owns 37,324 shares of the aerospace company’s stock valued at $1,776,000 after buying an additional 361 shares during the period. Pictet Asset Management Ltd. boosted its stake in Textron by 1.3% in the first quarter. Pictet Asset Management Ltd. now owns 137,288 shares of the aerospace company’s stock valued at $6,534,000 after buying an additional 1,700 shares during the period. Finally, Bank of Montreal Can boosted its stake in Textron by 0.5% in the first quarter. Bank of Montreal Can now owns 132,775 shares of the aerospace company’s stock valued at $6,317,000 after buying an additional 644 shares during the period. Institutional investors own 83.62% of the company’s stock.
Shares of Textron Inc. (NYSE TXT) opened at 48.95 on Tuesday. The firm has a 50-day moving average of $48.52 and a 200-day moving average of $47.69. The firm has a market capitalization of $12.96 billion, a PE ratio of 14.96 and a beta of 1.56. Textron Inc. has a 12-month low of $37.19 and a 12-month high of $50.93.
Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Textron had a net margin of 6.45% and a return on equity of 11.97%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the business earned $0.66 EPS. The company’s revenue for the quarter 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 year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.16%. Textron’s dividend payout ratio (DPR) is presently 2.45%.
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TXT has been the subject of several recent analyst reports. Credit Suisse Group reiterated a “buy” rating and set a $50.00 price objective on shares of Textron in a research report on Wednesday, May 24th. Jefferies Group LLC restated a “buy” rating and issued a $60.00 price target on shares of Textron in a report on Thursday, May 18th. Bank of America Corporation cut shares of Textron from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $53.00 to $45.00 in a report on Friday, July 21st. BidaskClub cut shares of Textron from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Textron 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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