Stone Ridge Asset Management LLC purchased a new stake in Textron Inc. (NYSE:TXT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 30,031 shares of the aerospace company’s stock, valued at approximately $1,699,000.
Other large investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC bought a new stake in Textron in the third quarter worth about $110,000. Invictus RG bought a new stake in Textron in the third quarter worth about $115,000. Cerebellum GP LLC bought a new stake in Textron in the fourth quarter worth about $133,000. Commerzbank Aktiengesellschaft FI bought a new stake in Textron in the third quarter worth about $201,000. Finally, BB&T Securities LLC bought a new stake in Textron in the third quarter worth about $203,000. 83.27% of the stock is owned by hedge funds and other institutional investors.
Shares of Textron Inc. (TXT) opened at $58.90 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.06 and a current ratio of 2.19. Textron Inc. has a 12 month low of $45.00 and a 12 month high of $62.19. The firm has a market cap of $15,444.55, a P/E ratio of 24.08, a PEG ratio of 1.85 and a beta of 1.37.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Thursday, March 8th. Textron’s dividend payout ratio is presently 7.02%.
Several analysts have issued reports on TXT shares. Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “sell” rating in a research note on Friday, November 17th. Cowen reissued a “buy” rating and issued a $60.00 price objective on shares of Textron in a research note on Tuesday, November 14th. Stephens set a $65.00 price objective on shares of Textron and gave the stock a “hold” rating in a research note on Thursday, January 11th. ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $67.00 price target (up previously from $59.00) on shares of Textron in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $60.50.
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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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