Gulf International Bank UK Ltd increased its position in shares of Textron Inc. (NYSE:TXT) by 343.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,352 shares of the aerospace company’s stock after purchasing an additional 70,000 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Textron were worth $6,457,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in TXT. Janus Henderson Group PLC lifted its stake in Textron by 439.9% during the second quarter. Janus Henderson Group PLC now owns 560,129 shares of the aerospace company’s stock worth $36,919,000 after purchasing an additional 456,384 shares during the last quarter. Acadian Asset Management LLC bought a new position in Textron during the second quarter worth $25,458,000. First Trust Advisors LP bought a new position in Textron during the third quarter worth $26,015,000. OppenheimerFunds Inc. lifted its stake in Textron by 1,361.8% during the second quarter. OppenheimerFunds Inc. now owns 312,804 shares of the aerospace company’s stock worth $20,617,000 after purchasing an additional 291,405 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its stake in Textron by 5,739.1% during the second quarter. WINTON GROUP Ltd now owns 284,073 shares of the aerospace company’s stock worth $18,723,000 after purchasing an additional 279,208 shares during the last quarter. Hedge funds and other institutional investors own 84.96% of the company’s stock.
TXT stock opened at $56.88 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.11 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of 23.22, a P/E/G ratio of 1.33 and a beta of 1.66. Textron Inc. has a 1 year low of $51.49 and a 1 year high of $72.87.
Textron (NYSE:TXT) last posted its earnings results on Thursday, October 18th. The aerospace company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.15). The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.52 billion. Textron had a net margin of 6.11% and a return on equity of 13.72%. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. As a group, analysts predict that Textron Inc. will post 3.2 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date is Thursday, December 13th. Textron’s payout ratio is 3.27%.
Several equities analysts recently issued reports on TXT shares. Zacks Investment Research cut Textron from a “buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Jefferies Financial Group raised their price objective on Textron to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Morgan Stanley set a $71.00 price objective on Textron and gave the stock a “hold” rating in a research note on Thursday, October 11th. Wells Fargo & Co reduced their price objective on Textron from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, October 19th. Finally, ValuEngine cut Textron from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Textron currently has an average rating of “Buy” and an average target price of $74.64.
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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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