Textron Inc. (TXT) Stake Maintained by Citizens Financial Group Inc RI

Citizens Financial Group Inc RI continued to hold its stake in Textron Inc. (NYSE:TXT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,600 shares of the aerospace company’s stock at the end of the second quarter. Citizens Financial Group Inc RI’s holdings in Textron were worth $923,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Seven Eight Capital LP increased its stake in shares of Textron by 1,363.6% during the second quarter. Seven Eight Capital LP now owns 17,388 shares of the aerospace company’s stock worth $819,000 after acquiring an additional 16,200 shares during the period. Riverhead Capital Management LLC grew its position in Textron by 2.4% during the second quarter. Riverhead Capital Management LLC now owns 12,640 shares of the aerospace company’s stock worth $595,000 after buying an additional 295 shares during the period. Aberdeen Asset Management PLC UK grew its position in Textron by 13.4% during the second quarter. Aberdeen Asset Management PLC UK now owns 72,468 shares of the aerospace company’s stock worth $3,413,000 after buying an additional 8,568 shares during the period. Eaton Vance Management grew its position in Textron by 26.1% during the second quarter. Eaton Vance Management now owns 280,815 shares of the aerospace company’s stock worth $13,226,000 after buying an additional 58,080 shares during the period. Finally, Private Advisor Group LLC grew its position in Textron by 36.2% during the second quarter. Private Advisor Group LLC now owns 12,499 shares of the aerospace company’s stock worth $606,000 after buying an additional 3,319 shares during the period. Institutional investors and hedge funds own 81.50% of the company’s stock.

Shares of Textron Inc. (NYSE TXT) traded up 0.88% during mid-day trading on Tuesday, hitting $51.64. 766,782 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $48.75 and a 200-day moving average price of $47.72. The stock has a market cap of $13.67 billion, a P/E ratio of 15.79 and a beta of 1.56. Textron Inc. has a 1-year low of $37.19 and a 1-year high of $51.78.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Textron had a net margin of 6.45% and a return on equity of 11.97%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. Equities research analysts anticipate that Textron Inc. will post $2.53 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.16%. Textron’s dividend payout ratio is currently 2.45%.

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TXT has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. BidaskClub lowered shares of Textron from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Credit Suisse Group restated a “buy” rating and set a $50.00 target price on shares of Textron in a research report on Wednesday, May 24th. Bank of America Corporation lowered shares of Textron from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $53.00 to $45.00 in a research report on Friday, July 21st. Finally, Wells Fargo & Company restated an “outperform” rating and set a $54.00 target price (up from $52.00) on shares of Textron in a research report on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $53.42.

Textron Profile

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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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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