Textron Inc. (TXT) Position Reduced by Miles Capital Inc.
Miles Capital Inc. lessened its stake in shares of Textron Inc. (NYSE:TXT) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,880 shares of the aerospace company’s stock after selling 191 shares during the period. Miles Capital Inc.’s holdings in Textron were worth $230,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its holdings 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 worth $123,000 after buying an additional 1,043 shares during the last quarter. Global X Management Co. LLC lifted its stake in shares of Textron by 30.2% during 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 during the period. Parkside Financial Bank & Trust lifted its stake in shares of Textron by 0.8% during 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 during the period. Koch Industries Inc. acquired a new stake in shares of Textron during the first quarter worth $203,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Textron during the first quarter worth $210,000. 81.49% of the stock is currently owned by institutional investors.
Several research firms recently issued reports on TXT. Zacks Investment Research raised Textron from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Thursday, September 21st. Jefferies Group LLC restated a “buy” rating and issued a $60.00 price objective on shares of Textron in a research note on Tuesday, September 26th. BidaskClub cut Textron from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. Drexel Hamilton raised Textron from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a report on Monday, September 11th. Finally, ValuEngine raised Textron from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $53.75.
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Shares of Textron Inc. (NYSE:TXT) traded up 0.09% during trading on Monday, hitting $53.93. The company had a trading volume of 170,818 shares. The stock’s 50-day moving average is $49.37 and its 200 day moving average is $47.92. Textron Inc. has a 52-week low of $37.19 and a 52-week high of $54.10. The firm has a market capitalization of $14.28 billion, a P/E ratio of 16.49 and a beta of 1.59.
Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 EPS 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 business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities research analysts predict that Textron Inc. will post $2.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.15%. Textron’s dividend payout ratio (DPR) is 2.45%.
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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