NBT Bank N A NY Acquires 158 Shares of Textron Inc. (TXT)
NBT Bank N A NY raised its stake in shares of Textron Inc. (NYSE:TXT) by 0.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 19,598 shares of the aerospace company’s stock after buying an additional 158 shares during the period. NBT Bank N A NY’s holdings in Textron were worth $923,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in TXT. Bessemer Group Inc. boosted its position in shares of Textron by 66.7% in the second quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after buying an additional 1,043 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Textron by 30.2% in the first quarter. Global X Management Co. LLC now owns 2,620 shares of the aerospace company’s stock valued at $125,000 after buying an additional 607 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Textron by 0.8% in the second quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock valued at $152,000 after buying an additional 26 shares during the last quarter. Koch Industries Inc. acquired a new position in shares of Textron during the first quarter valued at $203,000. Finally, Two Sigma Securities LLC acquired a new position in shares of Textron during the first quarter valued at $210,000. 81.50% of the stock is currently owned by institutional investors and hedge funds.
Textron Inc. (TXT) traded up 1.526% during midday trading on Wednesday, hitting $48.895. 157,778 shares of the company were exchanged. The stock has a 50 day moving average of $48.78 and a 200-day moving average of $47.72. Textron Inc. has a 1-year low of $37.19 and a 1-year high of $50.93. The stock has a market capitalization of $12.94 billion, a price-to-earnings ratio of 14.948 and a beta of 1.56.
Textron (NYSE:TXT) last released its quarterly earnings data on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.57 billion. Textron had a net margin of 6.45% and a return on equity of 11.97%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. Equities analysts expect that Textron Inc. will post $2.53 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Thursday, September 14th. Textron’s dividend payout ratio (DPR) is currently 2.45%.
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Several equities analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Textron from $45.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, August 17th. BidaskClub cut shares of Textron from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. Jefferies Group LLC reissued a “buy” rating and set a $60.00 target price on shares of Textron in a research report on Thursday, May 18th. Wells Fargo & Co reissued an “outperform” rating and set a $54.00 target price (up previously from $52.00) on shares of Textron in a research report on Saturday, July 22nd. Finally, 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 research report on Friday, July 21st. Three analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.00.
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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