Teachers Retirement System of The State of Kentucky Holds Position in Textron Inc. (TXT)
Teachers Retirement System of The State of Kentucky maintained its position in Textron Inc. (NYSE:TXT) during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,900 shares of the aerospace company’s stock at the end of the second quarter. Teachers Retirement System of The State of Kentucky’s holdings in Textron were worth $1,408,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. MRJ Capital Inc. bought a new position in shares of Textron in the second quarter valued at approximately $3,589,000. Airain ltd bought a new position in shares of Textron in the second quarter valued at approximately $2,608,000. Bank of Nova Scotia lifted its holdings in shares of Textron by 939.6% in the first quarter. Bank of Nova Scotia now owns 61,719 shares of the aerospace company’s stock valued at $2,937,000 after purchasing an additional 55,782 shares in the last quarter. Highbridge Capital Management LLC lifted its holdings in shares of Textron by 153.1% in the first quarter. Highbridge Capital Management LLC now owns 5,308 shares of the aerospace company’s stock valued at $253,000 after purchasing an additional 15,308 shares in the last quarter. Finally, NBT Bank N A NY lifted its holdings in shares of Textron by 0.8% in the second quarter. NBT Bank N A NY now owns 19,598 shares of the aerospace company’s stock valued at $923,000 after purchasing an additional 158 shares in the last quarter. Institutional investors own 81.49% of the company’s stock.
Shares of Textron Inc. (NYSE:TXT) opened at 55.49 on Friday. Textron Inc. has a 52-week low of $37.19 and a 52-week high of $55.79. The stock has a market capitalization of $14.69 billion, a P/E ratio of 16.96 and a beta of 1.59. The firm has a 50-day moving average price of $51.24 and a 200-day moving average price of $48.50.
Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.05. The firm had revenue of $3.60 billion for 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 company’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. On average, analysts predict that Textron Inc. will post $2.53 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Stockholders of record on Friday, September 15th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.14%. Textron’s payout ratio is 2.45%.
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A number of research firms have recently weighed in on TXT. ValuEngine lowered Textron from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $60.00 price target on shares of Textron in a report on Tuesday, September 26th. BidaskClub lowered Textron from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. Morgan Stanley lifted their price target on Textron from $45.00 to $47.00 and gave the stock an “underweight” rating in a report on Thursday, August 17th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $54.00 price target (up from $52.00) on shares of Textron in a report on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. Textron presently has a consensus rating of “Hold” and an average target price of $53.75.
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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