Hsbc Holdings PLC Has $53.83 Million Holdings in Textron Inc. (NYSE:TXT)

Hsbc Holdings PLC grew its position in Textron Inc. (NYSE:TXT) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 626,323 shares of the aerospace company’s stock after purchasing an additional 23,404 shares during the period. Hsbc Holdings PLC owned about 0.33% of Textron worth $53,830,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Altman Advisors Inc. increased its position in Textron by 0.6% in the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock worth $1,894,000 after purchasing an additional 129 shares during the last quarter. True Vision MN LLC increased its position in Textron by 2.5% in the 1st quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock worth $513,000 after purchasing an additional 133 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Textron by 0.8% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock valued at $1,558,000 after acquiring an additional 146 shares during the last quarter. Czech National Bank increased its holdings in shares of Textron by 0.5% during the 1st quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock valued at $3,308,000 after acquiring an additional 157 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in shares of Textron by 0.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 30,614 shares of the aerospace company’s stock valued at $2,937,000 after acquiring an additional 181 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TXT. TD Cowen increased their price objective on Textron from $100.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 19th. UBS Group increased their price objective on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a report on Thursday, August 8th. Citigroup increased their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Bank of America raised their target price on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.50.

Textron Stock Performance

Shares of NYSE TXT opened at $87.91 on Friday. 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 business’s 50 day moving average is $88.82 and its two-hundred day moving average is $89.33. The company has a market cap of $16.76 billion, a P/E ratio of 18.78, a P/E/G ratio of 1.40 and a beta of 1.23. Textron Inc. has a 12 month low of $74.13 and a 12 month high of $97.33.

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

Textron Announces Dividend

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

About Textron

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.