AdvisorNet Financial Inc boosted its holdings in Textron Inc. (NYSE:TXT) by 16,736.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,199 shares of the aerospace company’s stock after acquiring an additional 3,180 shares during the quarter. AdvisorNet Financial Inc’s holdings in Textron were worth $170,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Thrivent Financial for Lutherans boosted its holdings in shares of Textron by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 11,191 shares of the aerospace company’s stock worth $515,000 after purchasing an additional 197 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Textron by 3.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 10,052 shares of the aerospace company’s stock worth $509,000 after purchasing an additional 353 shares in the last quarter. First Allied Advisory Services Inc. boosted its holdings in shares of Textron by 2.9% in the 1st quarter. First Allied Advisory Services Inc. now owns 12,879 shares of the aerospace company’s stock worth $653,000 after purchasing an additional 357 shares in the last quarter. Gulf International Bank UK Ltd boosted its holdings in shares of Textron by 0.6% in the 1st quarter. Gulf International Bank UK Ltd now owns 62,752 shares of the aerospace company’s stock worth $3,179,000 after purchasing an additional 400 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Textron by 2.3% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 19,530 shares of the aerospace company’s stock worth $989,000 after purchasing an additional 440 shares in the last quarter. Institutional investors and hedge funds own 83.96% of the company’s stock.
Separately, Credit Suisse Group reiterated a “buy” rating and issued a $241.00 price objective on shares of FedEx in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $61.63.
Shares of TXT traded down $1.26 during midday trading on Thursday, reaching $50.86. The stock had a trading volume of 697,108 shares, compared to its average volume of 1,719,281. The business has a 50-day moving average price of $51.19. Textron Inc. has a 12-month low of $43.27 and a 12-month high of $72.87. The company has a quick ratio of 0.73, a current ratio of 1.93 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $11.91 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.37 and a beta of 1.76.
Textron (NYSE:TXT) last issued its earnings results on Wednesday, July 17th. The aerospace company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.07. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Textron had a return on equity of 15.55% and a net margin of 9.07%. Textron’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.87 EPS. As a group, equities analysts forecast that Textron Inc. will post 3.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, September 12th. Textron’s dividend payout ratio is presently 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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