Credit Suisse AG lifted its stake in shares of Textron Inc. (NYSE:TXT) by 26.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,415 shares of the aerospace company’s stock after acquiring an additional 62,146 shares during the period. Credit Suisse AG owned 0.12% of Textron worth $21,399,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Centaurus Financial Inc. purchased a new position in shares of Textron during the 2nd quarter worth about $105,000. BlueMountain Capital Management LLC purchased a new position in shares of Textron during the 2nd quarter worth about $139,000. First Hawaiian Bank purchased a new position in shares of Textron during the 3rd quarter worth about $140,000. Willingdon Wealth Management purchased a new position in shares of Textron during the 3rd quarter worth about $157,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Textron during the 3rd quarter worth about $191,000. Institutional investors and hedge funds own 84.22% of the company’s stock.
NYSE TXT opened at $56.14 on Monday. Textron Inc. has a one year low of $51.49 and a one year high of $72.87. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.11 and a current ratio of 2.29. The company has a market capitalization of $13.64 billion, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 1.08 and a beta of 1.66.
Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 18th. The aerospace company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.15). Textron had a net margin of 6.11% and a return on equity of 13.72%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the previous year, the business posted $0.65 EPS. The company’s quarterly revenue was down 8.2% on a year-over-year basis. Equities research analysts predict that Textron Inc. will post 3.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.14%. The ex-dividend date is Thursday, December 13th. Textron’s dividend payout ratio (DPR) is 3.27%.
Several research analysts recently commented on TXT shares. Zacks Investment Research lowered shares of Textron from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Jefferies Financial Group raised their price target on shares of Textron to $82.00 and gave the company a “buy” rating in a report on Wednesday, September 26th. Morgan Stanley set a $71.00 price target on shares of Textron and gave the company a “hold” rating in a report on Thursday, October 11th. ValuEngine lowered shares of Textron from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Finally, Wells Fargo & Co cut their price target on shares of Textron from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, October 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Textron has an average rating of “Buy” and an average target price of $72.73.
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.
Read More: Asset Allocation and Your Retirement
Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXT).
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.