People s United Financial Inc. maintained its stake in shares of Textron Inc. (NYSE:TXT) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,333 shares of the aerospace company’s stock at the end of the second quarter. People s United Financial Inc.’s holdings in Textron were worth $110,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. grew its holdings in shares of Textron by 66.7% in the 2nd quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after acquiring an additional 1,043 shares in the last quarter. Global X Management Co. LLC grew its holdings in shares of Textron by 30.2% in the 1st quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock valued at $125,000 after acquiring an additional 607 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Textron by 0.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock valued at $152,000 after acquiring an additional 26 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of Textron in the 1st quarter valued at about $210,000. Finally, Canandaigua National Bank & Trust Co. grew its holdings in shares of Textron by 1.6% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 4,815 shares of the aerospace company’s stock valued at $227,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.
TXT has been the subject of several analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $60.00 price objective on shares of Textron in a report on Tuesday, September 26th. Zacks Investment Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research note on Thursday, September 21st. Drexel Hamilton upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Monday, September 11th. ValuEngine upgraded shares of Textron from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Finally, BidaskClub upgraded shares of Textron from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Textron has a consensus rating of “Hold” and a consensus target price of $53.75.
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Shares of Textron Inc. (NYSE:TXT) opened at 54.40 on Wednesday. The firm has a market capitalization of $14.40 billion, a P/E ratio of 16.63 and a beta of 1.59. Textron Inc. has a 52-week low of $37.19 and a 52-week high of $55.80. The stock has a 50 day moving average of $51.65 and a 200-day moving average of $48.65.
Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, beating the Zacks’ 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%. Textron’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. Equities analysts expect that Textron Inc. will post $2.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 15th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.15%. The ex-dividend date was Thursday, September 14th. Textron’s dividend payout ratio is presently 2.45%.
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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