Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in shares of Textron Inc. (NYSE:TXT) by 3,878.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,978 shares of the aerospace company’s stock after acquiring an additional 3,878 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Textron were worth $193,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in TXT. MML Investors Services LLC lifted its stake in shares of Textron by 8.6% in the first quarter. MML Investors Services LLC now owns 14,482 shares of the aerospace company’s stock worth $734,000 after acquiring an additional 1,142 shares in the last quarter. Private Advisor Group LLC boosted its stake in Textron by 8.4% in the 1st quarter. Private Advisor Group LLC now owns 21,310 shares of the aerospace company’s stock worth $1,079,000 after purchasing an additional 1,656 shares in the last quarter. Primecap Management Co. CA boosted its stake in Textron by 2.3% in the 1st quarter. Primecap Management Co. CA now owns 5,292,360 shares of the aerospace company’s stock worth $268,111,000 after purchasing an additional 116,746 shares in the last quarter. SRB Corp lifted its stake in Textron by 29.7% during the 1st quarter. SRB Corp now owns 13,174 shares of the aerospace company’s stock valued at $667,000 after acquiring an additional 3,017 shares during the period. Finally, Advisory Resource Group bought a new position in shares of Textron in the 1st quarter worth approximately $506,000. 82.62% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on TXT. ValuEngine raised shares of Textron from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Vertical Research lowered shares of Textron from a “buy” rating to a “hold” rating and reduced their target price for the stock from $56.00 to $54.00 in a report on Friday, September 27th. Finally, Morgan Stanley increased their target price on shares of Textron from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Textron currently has an average rating of “Hold” and an average target price of $57.00.
Textron stock opened at $48.86 on Friday. The firm has a 50 day moving average of $47.73 and a 200 day moving average of $49.59. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.26 and a beta of 1.77. Textron Inc. has a 12-month low of $42.30 and a 12-month high of $67.26. The company has a current ratio of 2.17, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68.
Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, July 17th. The aerospace company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. Textron had a return on equity of 15.55% and a net margin of 9.07%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same period last year, the company earned $0.87 earnings per share. Textron’s revenue was down 13.4% on a year-over-year basis. On average, analysts predict that Textron Inc. will post 3.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.16%. Textron’s dividend payout ratio (DPR) is 2.40%.
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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