Gotham Asset Management LLC cut its position in Textron (NYSE:TXT) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 162,573 shares of the aerospace company’s stock after selling 5,325 shares during the quarter. Gotham Asset Management LLC owned approximately 0.06% of Textron worth $9,200,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Aperio Group LLC raised its holdings in Textron by 0.8% in the fourth quarter. Aperio Group LLC now owns 112,996 shares of the aerospace company’s stock worth $6,394,000 after purchasing an additional 911 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in Textron by 6.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,378 shares of the aerospace company’s stock worth $813,000 after purchasing an additional 924 shares in the last quarter. Keybank National Association OH raised its holdings in Textron by 3.8% in the fourth quarter. Keybank National Association OH now owns 29,168 shares of the aerospace company’s stock worth $1,651,000 after purchasing an additional 1,065 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Textron by 4.3% in the fourth quarter. CIBC Asset Management Inc now owns 26,438 shares of the aerospace company’s stock worth $1,496,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Penserra Capital Management LLC increased its holdings in shares of Textron by 18.6% during the fourth quarter. Penserra Capital Management LLC now owns 7,000 shares of the aerospace company’s stock valued at $396,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 83.25% of the company’s stock.
TXT has been the topic of several recent analyst reports. Cowen restated a “buy” rating and set a $60.00 price objective on shares of Textron in a report on Tuesday, November 28th. Zacks Investment Research upgraded shares of Textron from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. ValuEngine upgraded shares of Textron from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Stephens set a $65.00 price target on shares of Textron and gave the stock a “hold” rating in a report on Thursday, January 11th. Finally, Wells Fargo reiterated an “outperform” rating and issued a $67.00 price target (up previously from $59.00) on shares of Textron in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Textron has an average rating of “Hold” and an average target price of $60.50.
Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, January 31st. The aerospace company reported $0.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.03). Textron had a return on equity of 11.58% and a net margin of 2.16%. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the company posted $0.80 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. sell-side analysts forecast that Textron will post 3.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.14%. Textron’s dividend payout ratio (DPR) is 7.02%.
Textron Company Profile
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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