Great West Life Assurance Co. Can Sells 11,269 Shares of Textron Inc. (TXT)
Great West Life Assurance Co. Can cut its position in Textron Inc. (NYSE:TXT) by 5.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 182,166 shares of the aerospace company’s stock after selling 11,269 shares during the period. Great West Life Assurance Co. Can’s holdings in Textron were worth $8,572,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Global X Management Co. LLC boosted its stake in Textron by 30.2% in the first quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock worth $125,000 after buying an additional 607 shares in the last quarter. Financial Architects Inc bought a new stake in Textron during the first quarter worth approximately $126,000. Parkside Financial Bank & Trust boosted its stake in Textron by 0.8% in the second quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock worth $152,000 after buying an additional 26 shares in the last quarter. Koch Industries Inc. bought a new stake in Textron during the first quarter worth approximately $203,000. Finally, Two Sigma Securities LLC bought a new stake in Textron during the first quarter worth approximately $210,000. 83.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Textron Inc. (TXT) opened at 48.48 on Friday. The company’s 50 day moving average price is $48.43 and its 200 day moving average price is $47.69. The stock has a market capitalization of $12.83 billion, a PE ratio of 14.82 and a beta of 1.56. Textron Inc. has a 52-week low of $37.19 and a 52-week high of $50.93.
Textron (NYSE:TXT) last announced its earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Textron had a return on equity of 11.97% and a net margin of 6.45%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the business earned $0.66 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Textron Inc. will post $2.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.17%. Textron’s dividend payout ratio (DPR) is 2.45%.
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A number of equities research analysts have recently commented on the company. BidaskClub cut Textron from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Jefferies Group LLC reissued a “buy” rating and issued a $60.00 target price on shares of Textron in a research note on Thursday, May 18th. Bank of America Corporation cut Textron from a “buy” rating to an “underperform” rating and cut their target price for the stock from $53.00 to $45.00 in a research note on Friday, July 21st. Credit Suisse Group reissued a “buy” rating and issued a $50.00 target price on shares of Textron in a research note on Wednesday, May 24th. Finally, Wells Fargo & Company reissued an “outperform” rating and issued a $54.00 target price (up from $52.00) on shares of Textron in a research note on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.60.
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. The Textron Aviation segment is engaged in general aviation.
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