Stevens First Principles Investment Advisors raised its stake in shares of Textron Inc. (NYSE:TXT) by 213.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,955 shares of the aerospace company’s stock after acquiring an additional 16,320 shares during the quarter. Stevens First Principles Investment Advisors’ holdings in Textron were worth $1,271,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Tibra Equities Europe Ltd acquired a new stake in shares of Textron in the first quarter valued at $887,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Textron in the fourth quarter valued at $315,000. Oakbrook Investments LLC acquired a new stake in shares of Textron in the second quarter valued at $615,000. Carroll Financial Associates Inc. acquired a new stake in shares of Textron in the second quarter valued at $196,000. Finally, Polaris Greystone Financial Group LLC acquired a new stake in shares of Textron in the first quarter valued at $3,021,000. 83.87% of the stock is owned by institutional investors.
TXT stock traded down $1.35 during midday trading on Thursday, reaching $47.95. The stock had a trading volume of 887,573 shares, compared to its average volume of 1,725,668. The business’s fifty day moving average price is $51.36. The company has a current ratio of 2.17, a quick ratio of 0.97 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.76. Textron Inc. has a twelve month low of $43.27 and a twelve month high of $72.87.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.17%. Textron’s payout ratio is 2.40%.
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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