Pacer Advisors Inc. grew its holdings in shares of Textron Inc. (NYSE:TXT – Free Report) by 2.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,022,113 shares of the aerospace company’s stock after purchasing an additional 26,438 shares during the quarter. Pacer Advisors Inc. owned about 0.51% of Textron worth $69,126,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TXT. Capital Analysts LLC bought a new position in Textron during the first quarter worth about $29,000. SOA Wealth Advisors LLC. boosted its position in Textron by 129.8% during the first quarter. SOA Wealth Advisors LLC. now owns 439 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 248 shares during the period. Money Concepts Capital Corp boosted its position in Textron by 109.0% during the fourth quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 231 shares during the period. Thompson Investment Management Inc. bought a new position in Textron during the first quarter worth about $35,000. Finally, CENTRAL TRUST Co boosted its position in shares of Textron by 100.0% in the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock valued at $35,000 after acquiring an additional 300 shares during the period. Institutional investors own 85.92% of the company’s stock.
Textron Price Performance
Shares of TXT stock traded down $0.66 during trading hours on Tuesday, hitting $75.47. 260,105 shares of the company’s stock were exchanged, compared to its average volume of 1,310,647. The company has a market capitalization of $14.95 billion, a PE ratio of 17.50, a PEG ratio of 1.23 and a beta of 1.49. Textron Inc. has a 12-month low of $58.03 and a 12-month high of $80.10. The business’s 50 day simple moving average is $74.64 and its 200-day simple moving average is $69.59. The company has a current ratio of 1.87, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45.
Textron Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 15th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Thursday, September 14th. Textron’s dividend payout ratio (DPR) is presently 1.84%.
Insider Transactions at Textron
In other news, Director R Kerry Clark sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $75.33, for a total value of $376,650.00. Following the transaction, the director now owns 13,870 shares in the company, valued at $1,044,827.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.
Analyst Upgrades and Downgrades
TXT has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of Textron from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Susquehanna raised their price objective on shares of Textron from $83.00 to $89.00 and gave the company a “positive” rating in a research report on Friday, July 28th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 13th. Bank of America raised their price objective on shares of Textron from $76.00 to $85.00 and gave the company a “neutral” rating in a research report on Tuesday, August 15th. Finally, Vertical Research downgraded shares of Textron from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a research note on Wednesday, May 24th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $86.00.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.
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