Mason Street Advisors LLC acquired a new stake in Textron Inc. (NYSE:TXT) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 36,210 shares of the company’s stock, valued at approximately $1,324,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. raised its position in Textron by 225.8% in the second quarter. Meeder Asset Management Inc. now owns 3,323 shares of the company’s stock valued at $121,000 after buying an additional 2,303 shares during the period. Mizuho Asset Management Co. Ltd. raised its position in Textron by 107.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,561 shares of the company’s stock valued at $130,000 after buying an additional 1,841 shares during the period. IFP Advisors Inc raised its position in Textron by 245.7% in the first quarter. IFP Advisors Inc now owns 5,082 shares of the company’s stock valued at $185,000 after buying an additional 3,612 shares during the period. Pacer Advisors Inc. raised its position in Textron by 9.3% in the second quarter. Pacer Advisors Inc. now owns 5,440 shares of the company’s stock valued at $199,000 after buying an additional 464 shares during the period. Finally, Creative Planning raised its position in Textron by 24.7% in the second quarter. Creative Planning now owns 5,485 shares of the company’s stock valued at $201,000 after buying an additional 1,087 shares during the period. 80.63% of the stock is owned by hedge funds and other institutional investors.

Textron Inc. (NYSE:TXT) opened at 38.91 on Wednesday. The firm’s 50-day moving average price is $40.00 and its 200-day moving average price is $38.18. Textron Inc. has a 1-year low of $30.69 and a 1-year high of $43.93. The firm has a market cap of $10.48 billion, a P/E ratio of 14.68 and a beta of 1.44.

Textron (NYSE:TXT) last posted its earnings results on Friday, July 22nd. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.02. The company earned $3.50 billion during the quarter, compared to analyst estimates of $3.36 billion. Textron had a net margin of 5.28% and a return on equity of 14.72%. Textron’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. Equities research analysts anticipate that Textron Inc. will post $2.72 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.21%. Textron’s dividend payout ratio is currently 3.02%.

Several research analysts have recently weighed in on the company. Zacks Investment Research lowered Textron from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Drexel Hamilton reaffirmed a “hold” rating on shares of Textron in a research report on Wednesday, August 31st. Bank of America Corp. set a $45.00 target price on Textron and gave the company a “buy” rating in a research report on Monday, July 25th. Morgan Stanley reaffirmed a “sell” rating on shares of Textron in a research report on Monday, August 15th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $45.00 target price on shares of Textron in a research report on Tuesday, July 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Textron has an average rating of “Buy” and an average price target of $46.62.

Textron Company Profile

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.

5 Day Chart for NYSE:TXT

Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXT).

Receive News & Ratings for Textron Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.