Nissay Asset Management Corp Japan ADV increased its position in shares of Textron Inc. (NYSE:TXT) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,530 shares of the aerospace company’s stock after purchasing an additional 440 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Textron were worth $989,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in TXT. Osborn Williams & Donohoe LLC acquired a new stake in Textron during the 1st quarter valued at $25,000. Lake Point Wealth Management acquired a new stake in Textron during the 4th quarter valued at $28,000. Essex Savings Bank acquired a new stake in Textron during the 4th quarter valued at $29,000. North Star Investment Management Corp. acquired a new stake in Textron during the 1st quarter valued at $36,000. Finally, CWM LLC raised its stake in Textron by 38.6% during the 4th quarter. CWM LLC now owns 970 shares of the aerospace company’s stock valued at $45,000 after purchasing an additional 270 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on the stock. Credit Suisse Group assumed coverage on shares of Textron in a research note on Monday, April 1st. They set a “neutral” rating and a $50.00 target price on the stock. Zacks Investment Research downgraded shares of Textron from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Cowen reissued a “buy” rating and set a $62.00 target price on shares of Textron in a research note on Wednesday, February 27th. TheStreet raised shares of Textron from a “c+” rating to a “b” rating in a research note on Thursday, January 31st. Finally, ValuEngine cut shares of Textron from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $64.60.
Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, April 17th. The aerospace company reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.06. The firm had revenue of $31.09 million during the quarter, compared to analysts’ expectations of $3.17 billion. Textron had a net margin of 8.79% and a return on equity of 15.66%. Textron’s revenue for the quarter was down 99.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. As a group, equities analysts expect that Textron Inc. will post 3.7 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Thursday, June 13th. Textron’s dividend payout ratio is presently 2.40%.
In other news, VP Mark S. Bamford sold 4,500 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $54.75, for a total transaction of $246,375.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Frank T. Connor sold 72,732 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $55.17, for a total transaction of $4,012,624.44. Following the transaction, the chief financial officer now directly owns 186,456 shares of the company’s stock, valued at approximately $10,286,777.52. The disclosure for this sale can be found here. Insiders sold 458,112 shares of company stock valued at $25,222,635 over the last quarter. 1.40% of the stock is currently owned by corporate insiders.
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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