Victory Capital Management Inc. Has $202.81 Million Stake in Textron Inc. (TXT)
Victory Capital Management Inc. increased its stake in Textron Inc. (NYSE:TXT) by 11.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,409,907 shares of the aerospace company’s stock after acquiring an additional 470,595 shares during the period. Textron makes up about 0.5% of Victory Capital Management Inc.’s holdings, making the stock its 23rd largest holding. Victory Capital Management Inc. owned about 1.82% of Textron worth $202,812,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in TXT. Essex Savings Bank acquired a new position in Textron in the 4th quarter valued at $29,000. CWM LLC raised its stake in shares of Textron by 38.6% in the fourth quarter. CWM LLC now owns 970 shares of the aerospace company’s stock worth $45,000 after acquiring an additional 270 shares during the last quarter. Intercontinental Wealth Advisors LLC bought a new position in shares of Textron in the fourth quarter worth about $61,000. Oppenheimer Asset Management Inc. bought a new position in shares of Textron in the fourth quarter worth about $63,000. Finally, First Hawaiian Bank acquired a new stake in shares of Textron during the 3rd quarter worth approximately $140,000. Institutional investors and hedge funds own 84.88% of the company’s stock.
TXT has been the subject of several analyst reports. ValuEngine cut shares of Textron from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Wells Fargo & Co cut their price objective on shares of Textron from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th. Zacks Investment Research lowered shares of Textron from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Morgan Stanley cut their price objective on shares of Textron from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 14th. Finally, Jefferies Financial Group set a $68.00 price objective on shares of Textron and gave the stock a “buy” rating in a research report on Friday, November 30th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.25.
Textron (NYSE:TXT) last posted its earnings results on Thursday, January 24th. The aerospace company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.17. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Textron had a net margin of 8.75% and a return on equity of 15.51%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. On average, sell-side analysts expect that Textron Inc. will post 3.65 earnings per share for the current year.
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Textron Company Profile
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.
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