Louisiana State Employees Retirement System Has $643,000 Stake in Textron Inc. (TXT)
Louisiana State Employees Retirement System lowered its position in shares of Textron Inc. (NYSE:TXT) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,600 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Textron were worth $643,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Glenmede Trust Co. NA raised its position in shares of Textron by 1.8% in the first quarter. Glenmede Trust Co. NA now owns 14,632 shares of the company’s stock valued at $532,000 after buying an additional 255 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Textron by 59.9% in the first quarter. Prudential Financial Inc. now owns 544,252 shares of the company’s stock valued at $19,843,000 after buying an additional 203,900 shares during the last quarter. BlackRock Group LTD raised its position in shares of Textron by 3.2% in the first quarter. BlackRock Group LTD now owns 1,649,411 shares of the company’s stock valued at $60,138,000 after buying an additional 51,476 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Textron by 4.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,242,145 shares of the company’s stock valued at $264,049,000 after buying an additional 312,668 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Textron by 478.3% in the first quarter. JPMorgan Chase & Co. now owns 1,091,992 shares of the company’s stock valued at $39,813,000 after buying an additional 903,170 shares during the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.
Textron Inc. (NYSE:TXT) traded down 0.47% during mid-day trading on Friday, hitting $37.77. The stock had a trading volume of 1,303,325 shares. Textron Inc. has a 1-year low of $30.69 and a 1-year high of $43.93. The firm has a market cap of $10.18 billion, a P/E ratio of 14.25 and a beta of 1.65. The stock has a 50 day moving average of $39.66 and a 200-day moving average of $38.67.
Textron (NYSE:TXT) last released its quarterly earnings data on Friday, July 22nd. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. Textron had a return on equity of 14.72% and a net margin of 5.28%. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. Analysts predict that Textron Inc. will post $2.73 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Friday, September 9th were paid a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $0.08 annualized dividend and a dividend yield of 0.21%. Textron’s dividend payout ratio is currently 3.02%.
Several brokerages recently issued reports on TXT. Jefferies Group set a $50.00 price target on Textron and gave the stock a “buy” rating in a report on Thursday, October 6th. Robert W. Baird began coverage on Textron in a report on Wednesday, October 5th. They issued an “outperform” rating and a $48.00 price target on the stock. Zacks Investment Research downgraded Textron from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Drexel Hamilton reissued a “hold” rating on shares of Textron in a report on Wednesday, August 31st. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Textron in a report on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $46.74.
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. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.
Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXT).
Receive News & Ratings for Textron Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron Inc. and related companies with MarketBeat.com's FREE daily email newsletter.