TCW Group Inc. increased its stake in Textron Inc. (NYSE:TXT) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,958,810 shares of the aerospace company’s stock after purchasing an additional 24,130 shares during the period. Textron makes up approximately 1.3% of TCW Group Inc.’s portfolio, making the stock its 26th biggest holding. TCW Group Inc. owned approximately 1.12% of Textron worth $159,420,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of TXT. Bessemer Group Inc. increased its position in shares of Textron by 66.7% in the second quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock worth $123,000 after purchasing an additional 1,043 shares during the last quarter. Global X Management Co. LLC grew its position in Textron by 16.5% during the second quarter. Global X Management Co. LLC now owns 3,053 shares of the aerospace company’s stock valued at $144,000 after acquiring an additional 433 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Textron by 0.8% during the second 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 during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Textron during the third quarter valued at approximately $210,000. Finally, Heartland Advisors Inc. bought a new position in Textron during the third quarter valued at approximately $211,000. Institutional investors own 81.49% of the company’s stock.
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A number of research analysts have commented on the stock. ValuEngine cut shares of Textron from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research cut shares of Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Jefferies Group LLC reiterated a “buy” rating and set a $65.00 price target on shares of Textron in a research report on Friday, October 20th. Cowen and Company reiterated a “buy” rating and set a $60.00 price target on shares of Textron in a research report on Thursday, October 19th. Finally, Stephens reiterated an “equal weight” rating and set a $63.00 price target (up from $54.00) on shares of Textron in a research report on Friday, October 13th. Four analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $56.92.
Textron Inc. (NYSE TXT) traded down $0.57 during trading hours on Tuesday, hitting $53.70. The stock had a trading volume of 1,875,000 shares, compared to its average volume of 1,566,505. The stock has a market capitalization of $14,295.83, a price-to-earnings ratio of 21.62, a PEG ratio of 2.49 and a beta of 1.58. Textron Inc. has a 52-week low of $43.66 and a 52-week high of $55.80. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.96 and a current ratio of 2.08.
Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 19th. The aerospace company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.55 billion. Textron had a return on equity of 12.02% and a net margin of 4.48%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 earnings per share. equities research analysts forecast that Textron Inc. will post 2.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date is Thursday, December 14th. Textron’s dividend payout ratio (DPR) is presently 3.45%.
Textron Company 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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