Whittier Trust Co. Has $101,000 Position in Textron Inc. (NYSE:TXT)
Whittier Trust Co. maintained its stake in Textron Inc. (NYSE:TXT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,152 shares of the aerospace company’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in Textron were worth $101,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in TXT. GSA Capital Partners LLP bought a new stake in Textron during the fourth quarter valued at approximately $271,000. Kentucky Retirement Systems bought a new stake in Textron during the fourth quarter valued at approximately $952,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Textron during the fourth quarter valued at approximately $425,000. Searle & CO. bought a new stake in Textron during the fourth quarter valued at approximately $277,000. Finally, Macquarie Group Ltd. increased its stake in Textron by 5.2% in the fourth quarter. Macquarie Group Ltd. now owns 10,200 shares of the aerospace company’s stock valued at $496,000 after buying an additional 500 shares during the period. 82.66% of the stock is currently owned by institutional investors and hedge funds.
Textron Inc. (NYSE:TXT) opened at 48.50 on Friday. Textron Inc. has a one year low of $37.19 and a one year high of $50.93. The company has a market capitalization of $13.06 billion, a P/E ratio of 14.83 and a beta of 1.56. The stock’s 50 day moving average price is $47.80 and its 200-day moving average price is $47.70.
Textron (NYSE:TXT) last announced its earnings results 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. Textron had a return on equity of 11.97% and a net margin of 6.45%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts forecast that Textron Inc. will post $2.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a dividend of $0.02 per share. 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 2.45%.
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TXT has been the topic of several analyst reports. Credit Suisse Group reissued a “buy” rating and issued a $50.00 target price on shares of Textron in a report on Tuesday, April 11th. Stephens initiated coverage on Textron in a report on Thursday, April 13th. They issued an “equal weight” rating and a $54.00 target price on the stock. Cowen and Company reissued an “outperform” rating and issued a $60.00 target price on shares of Textron in a report on Saturday, April 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $60.00 target price on shares of Textron in a report on Thursday, May 18th. Finally, Zacks Investment Research downgraded Textron from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Textron has an average rating of “Hold” and a consensus price target 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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