136,787 Shares in Textron Inc. (TXT) Acquired by Amundi Pioneer Asset Management Inc.
Amundi Pioneer Asset Management Inc. purchased a new position in shares of Textron Inc. (NYSE:TXT) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 136,787 shares of the aerospace company’s stock, valued at approximately $7,370,000. Amundi Pioneer Asset Management Inc. owned approximately 0.05% of Textron as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bessemer Group Inc. lifted its position in Textron by 66.7% during the 2nd quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after purchasing an additional 1,043 shares during the period. Global X Management Co. LLC lifted its position in Textron by 16.5% during the 2nd quarter. Global X Management Co. LLC now owns 3,053 shares of the aerospace company’s stock valued at $144,000 after purchasing an additional 433 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Textron during the 3rd quarter valued at about $210,000. Heartland Advisors Inc. acquired a new position in Textron during the 3rd quarter valued at about $211,000. Finally, WASHINGTON TRUST Co acquired a new position in Textron during the 3rd quarter valued at about $211,000. Institutional investors and hedge funds own 82.04% of the company’s stock.
Shares of Textron Inc. (NYSE TXT) traded down $0.82 during mid-day trading on Friday, hitting $54.89. The stock had a trading volume of 1,451,405 shares, compared to its average volume of 1,126,497. The company has a current ratio of 2.08, a quick ratio of 0.96 and a debt-to-equity ratio of 0.67. The company has a market cap of $14,679.10, a PE ratio of 22.20, a PEG ratio of 2.56 and a beta of 1.57. Textron Inc. has a one year low of $43.66 and a one year high of $55.83.
Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. Textron’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. analysts anticipate that Textron Inc. will post 2.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. Textron’s dividend payout ratio (DPR) is presently 3.45%.
A number of research analysts have issued reports on TXT shares. Zacks Investment Research downgraded shares of Textron from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Morgan Stanley upped their target price on shares of Textron from $45.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, August 17th. Jefferies Group restated a “buy” rating and set a $65.00 target price on shares of Textron in a research report on Friday, October 20th. Citigroup upped their target price on shares of Textron from $54.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, Wells Fargo & Company upped their target price on shares of Textron from $54.00 to $59.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Four research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $56.92.
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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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