Fishman Jay A Ltd. MI Cuts Stake in Textron Inc. (TXT)
Fishman Jay A Ltd. MI lowered its position in Textron Inc. (NYSE:TXT) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 41,452 shares of the aerospace company’s stock after selling 200 shares during the period. Fishman Jay A Ltd. MI’s holdings in Textron were worth $1,952,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. LMR Partners LLP boosted its stake in shares of Textron by 283.8% in the second quarter. LMR Partners LLP now owns 19,215 shares of the aerospace company’s stock worth $905,000 after buying an additional 14,208 shares during the period. Savant Capital LLC boosted its stake in shares of Textron by 3.4% in the second quarter. Savant Capital LLC now owns 5,788 shares of the aerospace company’s stock worth $273,000 after buying an additional 190 shares during the period. Conning Inc. boosted its stake in shares of Textron by 1.7% in the second quarter. Conning Inc. now owns 5,997 shares of the aerospace company’s stock worth $282,000 after buying an additional 100 shares during the period. CCM Investment Advisers LLC boosted its stake in shares of Textron by 5.9% in the second quarter. CCM Investment Advisers LLC now owns 189,466 shares of the aerospace company’s stock worth $8,923,000 after buying an additional 10,619 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Textron by 8.4% in the second quarter. First Trust Advisors LP now owns 895,279 shares of the aerospace company’s stock worth $42,168,000 after buying an additional 69,520 shares during the period. 83.62% of the stock is currently owned by institutional investors.
Shares of Textron Inc. (TXT) opened at 48.95 on Tuesday. The company has a 50 day moving average of $48.52 and a 200-day moving average of $47.69. The firm has a market cap of $12.96 billion, a PE ratio of 14.96 and a beta of 1.56. Textron Inc. has a 12-month low of $37.19 and a 12-month high of $50.93.
Textron (NYSE:TXT) last posted its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. Textron had a net margin of 6.45% and a return on equity of 11.97%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts forecast that Textron Inc. will post $2.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.16%. Textron’s dividend payout ratio is presently 2.45%.
TRADEMARK VIOLATION NOTICE: This story was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another domain, it was illegally copied and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be read at https://www.watchlistnews.com/fishman-jay-a-ltd-mi-cuts-stake-in-textron-inc-txt/1490700.html.
A number of analysts have weighed in on the stock. BidaskClub cut shares of Textron from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Wells Fargo & Company reissued an “outperform” rating and set a $54.00 target price (up from $52.00) on shares of Textron in a report on Saturday, July 22nd. Bank of America Corporation cut shares of Textron from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $53.00 to $45.00 in a report on Friday, July 21st. Credit Suisse Group reissued an “outperform” rating and set a $55.00 target price (up from $50.00) on shares of Textron in a report on Thursday, July 20th. Finally, Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $53.60.
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. The Textron Aviation segment is engaged in general aviation.
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.