TIAA CREF Investment Management LLC lowered its holdings in Textron Inc. (NYSE:TXT) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,237,410 shares of the aerospace company’s stock after selling 101,011 shares during the quarter. TIAA CREF Investment Management LLC owned 1.61% of Textron worth $239,795,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Aperio Group LLC increased its stake in shares of Textron by 0.8% in the fourth quarter. Aperio Group LLC now owns 112,996 shares of the aerospace company’s stock worth $6,394,000 after acquiring an additional 911 shares during the period. Keybank National Association OH increased its stake in shares of Textron by 3.8% in the fourth quarter. Keybank National Association OH now owns 29,168 shares of the aerospace company’s stock worth $1,651,000 after acquiring an additional 1,065 shares during the period. CIBC Asset Management Inc increased its stake in shares of Textron by 4.3% in the fourth quarter. CIBC Asset Management Inc now owns 26,438 shares of the aerospace company’s stock worth $1,496,000 after acquiring an additional 1,084 shares during the period. Penserra Capital Management LLC increased its stake in shares of Textron by 18.6% in the fourth quarter. Penserra Capital Management LLC now owns 7,000 shares of the aerospace company’s stock worth $396,000 after acquiring an additional 1,100 shares during the period. Finally, Norinchukin Bank The increased its stake in shares of Textron by 6.1% in the third quarter. Norinchukin Bank The now owns 19,703 shares of the aerospace company’s stock worth $1,062,000 after acquiring an additional 1,125 shares during the period. Hedge funds and other institutional investors own 83.27% of the company’s stock.
A number of research firms have recently weighed in on TXT. Jefferies Group reiterated a “buy” rating and issued a $74.00 price objective on shares of Textron in a research note on Sunday, February 4th. Zacks Investment Research lowered shares of Textron from a “hold” rating to a “sell” rating in a research note on Friday, November 17th. ValuEngine upgraded shares of Textron from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Wells Fargo & Co reiterated an “outperform” rating and issued a $67.00 price objective (up previously from $59.00) on shares of Textron in a research note on Tuesday, January 16th. Finally, Cowen reiterated a “buy” rating and issued a $70.00 price objective on shares of Textron in a research note on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Textron currently has an average rating of “Hold” and a consensus price target of $60.50.
Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 31st. The aerospace company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.03). Textron had a return on equity of 11.58% and a net margin of 2.16%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the company posted $0.80 earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis. analysts anticipate that Textron Inc. will post 3.07 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Thursday, March 8th. Textron’s dividend payout ratio (DPR) is presently 7.02%.
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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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