Textron Sees Unusually Large Options Volume (TXT)
Textron Inc. (NYSE:TXT) was the target of some unusual options trading on Thursday. Stock traders bought 3,023 call options on the company. This represents an increase of approximately 754% compared to the average volume of 354 call options.
A number of research analysts recently issued reports on the company. ValuEngine downgraded Textron from a “buy” rating to a “hold” rating in a research note on Thursday. Cowen restated a “$66.44” rating and set a $73.00 price target on shares of Textron in a research note on Wednesday, July 18th. Zacks Investment Research upgraded Textron from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Wednesday, September 5th. Citigroup raised their price target on Textron to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 19th. Finally, JPMorgan Chase & Co. raised their price target on Textron from $74.00 to $77.00 and gave the stock a “$66.52” rating in a research note on Monday, July 23rd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $73.50.
Textron stock opened at $57.49 on Friday. Textron has a twelve month low of $51.07 and a twelve month high of $72.87. The company has a quick ratio of 1.11, a current ratio of 2.27 and a debt-to-equity ratio of 0.72. The company has a market cap of $16.09 billion, a price-to-earnings ratio of 21.74, a P/E/G ratio of 1.70 and a beta of 1.40.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Friday, September 14th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.14%. Textron’s payout ratio is 3.27%.
In related news, EVP E Robert Lupone sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $67.50, for a total transaction of $3,037,500.00. Following the transaction, the executive vice president now owns 121,838 shares in the company, valued at approximately $8,224,065. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Julie G. Duffy sold 6,562 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $68.13, for a total value of $447,069.06. Following the transaction, the vice president now owns 22,535 shares in the company, valued at approximately $1,535,309.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,209 shares of company stock worth $9,035,968. Company insiders own 1.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Oakbrook Investments LLC acquired a new stake in Textron during the 3rd quarter worth approximately $982,000. Aperio Group LLC lifted its position in Textron by 0.8% during the 3rd quarter. Aperio Group LLC now owns 121,855 shares of the aerospace company’s stock worth $8,709,000 after acquiring an additional 986 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in Textron during the 3rd quarter worth approximately $10,300,000. Nisa Investment Advisors LLC lifted its position in Textron by 2.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 93,150 shares of the aerospace company’s stock worth $6,657,000 after acquiring an additional 2,132 shares during the period. Finally, First Hawaiian Bank acquired a new stake in Textron during the 3rd quarter worth approximately $140,000. 82.76% of the stock is owned by institutional investors.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
Recommended Story: Fundamental Analysis
Receive News & Ratings for Textron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron and related companies with MarketBeat.com's FREE daily email newsletter.