Ontario Teachers Pension Plan Board Has $914,000 Holdings in Textron Inc. (TXT)
Ontario Teachers Pension Plan Board continued to hold its position in shares of Textron Inc. (NYSE:TXT) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,409 shares of the aerospace company’s stock at the end of the second quarter. Ontario Teachers Pension Plan Board’s holdings in Textron were worth $914,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its position in Textron by 66.7% during the 2nd quarter. Bessemer Group Inc. now owns 2,607 shares of the aerospace company’s stock valued at $123,000 after purchasing an additional 1,043 shares in the last quarter. Global X Management Co. LLC lifted its holdings in shares of Textron by 30.2% in the 1st 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 during the period. Parkside Financial Bank & Trust grew its position in shares of Textron by 0.8% during the 2nd 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 position in shares of Textron during the 1st quarter worth $203,000. Finally, Two Sigma Securities LLC bought a new position in shares of Textron during the 1st quarter worth $210,000. Institutional investors own 81.49% of the company’s stock.
TXT has been the topic of several research reports. Zacks Investment Research lowered Textron from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. BidaskClub lowered shares of Textron from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $55.00 price objective (up from $50.00) on shares of Textron in a research note on Thursday, July 20th. 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. Finally, Wells Fargo & Company reiterated 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. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Textron has a consensus rating of “Hold” and an average price target of $53.75.
Shares of Textron Inc. (TXT) opened at 54.50 on Wednesday. The company has a market capitalization of $14.43 billion, a PE ratio of 16.66 and a beta of 1.59. The stock has a 50 day moving average of $50.67 and a 200-day moving average of $48.35. Textron Inc. has a 12-month low of $37.19 and a 12-month high of $54.69.
Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Textron had a return on equity of 11.97% and a net margin of 6.45%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. Analysts predict that Textron Inc. will post $2.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 15th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.15%. Textron’s payout ratio is 2.45%.
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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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