Mosaic Family Wealth LLC boosted its position in Textron Inc. (NYSE:TXT) by 8.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,800 shares of the aerospace company’s stock after buying an additional 600 shares during the period. Mosaic Family Wealth LLC’s holdings in Textron were worth $367,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of TXT. Bessemer Group Inc. boosted its stake in Textron by 66.7% in the second quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock worth $123,000 after buying an additional 1,043 shares during the period. Global X Management Co. LLC boosted its stake in Textron by 30.2% in the first quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock worth $125,000 after buying an additional 607 shares during the period. Financial Architects Inc purchased a new stake in Textron during the first quarter worth approximately $126,000. Parkside Financial Bank & Trust boosted its stake in Textron by 0.8% in the second quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock worth $152,000 after buying an additional 26 shares during the period. Finally, Koch Industries Inc. purchased a new stake in Textron during the first quarter worth approximately $203,000. Institutional investors and hedge funds own 83.62% of the company’s stock.
Shares of Textron Inc. (NYSE:TXT) traded down 0.44% during trading on Monday, reaching $47.48. The company had a trading volume of 63,086 shares. Textron Inc. has a 52-week low of $37.19 and a 52-week high of $50.93. The stock has a 50 day moving average of $48.76 and a 200 day moving average of $47.71. The stock has a market capitalization of $12.57 billion, a price-to-earnings ratio of 14.52 and a beta of 1.56.
Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Textron had a net margin of 6.45% and a return on equity of 11.97%. Textron’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. Equities research analysts forecast that Textron Inc. will post $2.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, September 14th. Textron’s dividend payout ratio (DPR) is 2.45%.
A number of analysts have recently commented on TXT shares. Credit Suisse Group reiterated a “buy” rating and set a $50.00 target price on shares of Textron in a research report on Wednesday, May 24th. Jefferies Group LLC reiterated a “buy” rating and set a $60.00 target price on shares of Textron in a research report on Thursday, May 18th. Zacks Investment Research upgraded Textron from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Tuesday, July 18th. BidaskClub upgraded Textron from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $54.00 target price (up previously from $52.00) on shares of Textron in a research report on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $53.00.
About Textron
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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