Centaurus Financial Inc. acquired a new stake in Textron Inc. (NYSE:TXT) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,600 shares of the aerospace company’s stock, valued at approximately $105,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlueMountain Capital Management LLC acquired a new stake in shares of Textron in the second quarter valued at approximately $139,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Textron in the second quarter valued at approximately $197,000. Legacy Financial Advisors Inc. bought a new position in shares of Textron in the second quarter valued at $203,000. Colony Group LLC bought a new position in shares of Textron in the second quarter valued at $202,000. Finally, Greenleaf Trust bought a new position in shares of Textron in the second quarter valued at $207,000. Institutional investors own 82.91% of the company’s stock.

TXT stock opened at $72.30 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.27 and a quick ratio of 1.11. Textron Inc. has a one year low of $51.07 and a one year high of $72.87. The firm has a market cap of $17.84 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 1.89 and a beta of 1.40.

Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, July 18th. The aerospace company reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.17. Textron had a net margin of 3.21% and a return on equity of 13.93%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the previous year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. sell-side analysts anticipate that Textron Inc. will post 3.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is 3.27%.

In other Textron news, VP Julie G. Duffy sold 6,562 shares of Textron stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $68.13, for a total transaction of $447,069.06. Following the completion of the transaction, the vice president now directly owns 22,535 shares of the company’s stock, valued at $1,535,309.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP E Robert Lupone sold 45,000 shares of Textron stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $67.50, for a total transaction of $3,037,500.00. Following the transaction, the executive vice president now directly owns 121,838 shares of the company’s stock, valued at $8,224,065. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,209 shares of company stock valued at $9,035,968. Company insiders own 1.20% of the company’s stock.

TXT has been the subject of several analyst reports. ValuEngine cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 2nd. Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Tuesday, July 17th. JPMorgan Chase & Co. raised their target price on shares of Textron from $74.00 to $77.00 and gave the company a “$66.52” rating in a research note on Monday, July 23rd. Morgan Stanley raised their target price on shares of Textron from $64.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, July 12th. Finally, Citigroup raised their target price on shares of Textron to $76.00 and gave the company a “buy” rating in a research note on Thursday, July 19th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $72.00.

Textron 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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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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