Tredje AP fonden Sells 481 Shares of Textron Inc. (NYSE:TXT)

Tredje AP fonden decreased its holdings in Textron Inc. (NYSE:TXT) by 1.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,879 shares of the aerospace company’s stock after selling 481 shares during the period. Tredje AP fonden’s holdings in Textron were worth $2,651,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TXT. Wedge Capital Management L L P NC bought a new stake in Textron during the second quarter valued at about $64,319,000. Ferguson Wellman Capital Management Inc. bought a new stake in shares of Textron in the 1st quarter valued at about $45,932,000. Canada Pension Plan Investment Board grew its position in shares of Textron by 1,611.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock worth $41,547,000 after buying an additional 407,800 shares during the last quarter. LSV Asset Management raised its stake in shares of Textron by 6.9% during the 1st quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after acquiring an additional 260,003 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Textron by 77.7% during the fourth quarter. Hsbc Holdings PLC now owns 563,031 shares of the aerospace company’s stock valued at $45,285,000 after acquiring an additional 246,185 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TXT. Citigroup upped their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. UBS Group upped their price objective on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. Finally, Bank of America lifted their target price on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.50.

Textron Trading Up 1.7 %

Textron stock opened at $88.94 on Friday. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The stock has a 50-day moving average price of $88.80 and a 200 day moving average price of $89.33. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $16.66 billion, a price-to-earnings ratio of 19.00, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the previous year, the business posted $1.46 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Sell-side analysts anticipate that Textron Inc. will post 6.27 EPS for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s dividend payout ratio is currently 1.71%.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.