Deutsche Bank AG raised its holdings in shares of Textron Inc. (NYSE:TXT – Free Report) by 36.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 542,193 shares of the aerospace company’s stock after buying an additional 146,055 shares during the period. Deutsche Bank AG owned about 0.28% of Textron worth $42,367,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of TXT. Money Concepts Capital Corp boosted its holdings in shares of Textron by 109.0% in the fourth quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 231 shares during the period. CENTRAL TRUST Co raised its stake in Textron by 100.0% in the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. Global Retirement Partners LLC raised its stake in Textron by 393.9% in the third quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock worth $37,000 after buying an additional 390 shares in the last quarter. Provence Wealth Management Group bought a new position in Textron in the third quarter worth approximately $39,000. Finally, Lazard Asset Management LLC bought a new position in Textron in the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 85.92% of the company’s stock.
Textron Stock Performance
TXT traded up $0.66 during midday trading on Friday, hitting $92.91. 2,381,361 shares of the company were exchanged, compared to its average volume of 1,196,533. The company’s 50 day simple moving average is $85.45 and its 200 day simple moving average is $80.33. The firm has a market capitalization of $17.87 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 1.45 and a beta of 1.29. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. Textron Inc. has a 1-year low of $61.27 and a 1-year high of $93.45.
Textron (NYSE:TXT – Get Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same period last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that Textron Inc. will post 6.27 earnings per share for the current year.
Textron Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 15th 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 is Thursday, March 14th. Textron’s dividend payout ratio (DPR) is presently 1.75%.
Analyst Ratings Changes
Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Textron from $84.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, December 20th. Bank of America upgraded Textron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Citigroup raised their target price on Textron from $102.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, UBS Group raised their target price on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Textron has a consensus rating of “Moderate Buy” and an average target price of $90.00.
Textron 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.