Northwestern Mutual Investment Management Company LLC Sells 98 Shares of Textron Inc. (TXT)
Northwestern Mutual Investment Management Company LLC lowered its stake in shares of Textron Inc. (NYSE:TXT) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,257 shares of the company’s stock after selling 98 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Textron were worth $375,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of TXT. Meeder Asset Management Inc. increased its stake in shares of Textron by 225.8% in the second quarter. Meeder Asset Management Inc. now owns 3,323 shares of the company’s stock worth $121,000 after buying an additional 2,303 shares during the period. Mizuho Asset Management Co. Ltd. increased its stake in shares of Textron by 107.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,561 shares of the company’s stock worth $130,000 after buying an additional 1,841 shares during the period. IFP Advisors Inc increased its stake in shares of Textron by 245.7% in the first quarter. IFP Advisors Inc now owns 5,082 shares of the company’s stock worth $185,000 after buying an additional 3,612 shares during the period. Pacer Advisors Inc. increased its stake in shares of Textron by 9.3% in the second quarter. Pacer Advisors Inc. now owns 5,440 shares of the company’s stock worth $199,000 after buying an additional 464 shares during the period. Finally, Creative Planning increased its stake in shares of Textron by 24.7% in the second quarter. Creative Planning now owns 5,485 shares of the company’s stock worth $201,000 after buying an additional 1,087 shares during the period. Hedge funds and other institutional investors own 80.63% of the company’s stock.
Textron Inc. (NYSE:TXT) opened at 39.72 on Friday. The firm’s 50-day moving average is $40.06 and its 200-day moving average is $38.19. The firm has a market capitalization of $10.70 billion, a PE ratio of 14.99 and a beta of 1.44. Textron Inc. has a 12 month low of $30.69 and a 12 month high of $43.93.
Textron (NYSE:TXT) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.02. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.36 billion. Textron had a return on equity of 14.72% and a net margin of 5.28%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 EPS. On average, equities research analysts expect that Textron Inc. will post $2.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be issued a dividend of $0.02 per share. The ex-dividend date is Wednesday, September 7th. This represents a $0.08 annualized dividend and a yield of 0.20%. Textron’s payout ratio is presently 3.02%.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Jefferies Group reiterated a “buy” rating and set a $50.00 price target on shares of Textron in a report on Wednesday, August 31st. Drexel Hamilton reiterated a “hold” rating on shares of Textron in a report on Wednesday, August 31st. Credit Suisse Group AG reiterated a “buy” rating on shares of Textron in a report on Wednesday, August 31st. Finally, Morgan Stanley reiterated a “sell” rating on shares of Textron in a report on Monday, August 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Textron presently has an average rating of “Buy” and a consensus price target of $46.62.
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. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.
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