Textron Inc. (TXT) Shares Sold by TD Asset Management Inc.
TD Asset Management Inc. lowered its position in Textron Inc. (NYSE:TXT) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 576,861 shares of the aerospace company’s stock after selling 57,389 shares during the period. TD Asset Management Inc.’s holdings in Textron were worth $27,170,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of TXT. BlackRock Inc. increased its position in Textron by 3,689.9% in the first quarter. BlackRock Inc. now owns 17,144,765 shares of the aerospace company’s stock worth $815,921,000 after buying an additional 16,692,390 shares during the period. Vanguard Group Inc. increased its position in Textron by 3.4% in the first quarter. Vanguard Group Inc. now owns 24,537,994 shares of the aerospace company’s stock worth $1,167,763,000 after buying an additional 812,940 shares during the period. Victory Capital Management Inc. increased its position in Textron by 33.8% in the first quarter. Victory Capital Management Inc. now owns 2,927,970 shares of the aerospace company’s stock worth $139,342,000 after buying an additional 739,374 shares during the period. Gotham Asset Management LLC increased its position in Textron by 2,690.3% in the first quarter. Gotham Asset Management LLC now owns 561,971 shares of the aerospace company’s stock worth $26,744,000 after buying an additional 541,831 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Textron by 17.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,503,099 shares of the aerospace company’s stock worth $166,712,000 after buying an additional 524,664 shares during the period. Hedge funds and other institutional investors own 83.55% of the company’s stock.
Shares of Textron Inc. (TXT) opened at 48.24 on Friday. The company has a market capitalization of $12.77 billion, a PE ratio of 14.75 and a beta of 1.56. Textron Inc. has a 12 month low of $37.19 and a 12 month high of $50.93. The stock has a 50 day moving average price of $48.34 and a 200-day moving average price of $47.69.
Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.57 billion. Textron had a net margin of 6.45% and a return on equity of 11.97%. Textron’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. Analysts forecast that Textron Inc. will post $2.52 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.17%. The ex-dividend date is Thursday, September 14th. Textron’s payout ratio is 2.45%.
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A number of research analysts have weighed in on TXT shares. Zacks Investment Research downgraded Textron from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Stephens started coverage on Textron in a report on Thursday, April 13th. They set an “equal weight” rating and a $54.00 target price on the stock. Credit Suisse Group reiterated a “buy” rating and set a $50.00 target price on shares of Textron in a report on Wednesday, May 24th. Cowen and Company reiterated an “outperform” rating and set a $60.00 target price on shares of Textron in a report on Saturday, April 22nd. Finally, BidaskClub downgraded Textron from a “sell” rating to a “strong 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 given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $53.60.
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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