Redpoint Investment Management Pty Ltd Has $272,000 Position in Textron Inc. (NYSE:TXT)

Redpoint Investment Management Pty Ltd trimmed its stake in shares of Textron Inc. (NYSE:TXTGet Rating) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,452 shares of the aerospace company’s stock after selling 164 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Textron were worth $272,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TXT. Wetherby Asset Management Inc. raised its holdings in Textron by 5.4% in the 4th quarter. Wetherby Asset Management Inc. now owns 3,013 shares of the aerospace company’s stock valued at $233,000 after buying an additional 155 shares during the last quarter. Pictet Asset Management SA lifted its holdings in shares of Textron by 0.5% during the fourth quarter. Pictet Asset Management SA now owns 31,811 shares of the aerospace company’s stock worth $2,456,000 after purchasing an additional 160 shares during the period. Yousif Capital Management LLC grew its stake in shares of Textron by 0.7% in the first quarter. Yousif Capital Management LLC now owns 26,689 shares of the aerospace company’s stock worth $1,985,000 after purchasing an additional 175 shares during the last quarter. Fifth Third Bancorp increased its holdings in Textron by 1.0% in the first quarter. Fifth Third Bancorp now owns 19,437 shares of the aerospace company’s stock valued at $1,446,000 after purchasing an additional 185 shares during the period. Finally, CIBC Asset Management Inc raised its position in Textron by 1.0% during the 1st quarter. CIBC Asset Management Inc now owns 21,173 shares of the aerospace company’s stock worth $1,575,000 after purchasing an additional 213 shares during the last quarter. Institutional investors own 87.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 13th. Cowen set a $86.00 target price on shares of Textron in a research report on Tuesday, July 19th. Bank of America dropped their price target on shares of Textron from $74.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. Susquehanna Bancshares decreased their price objective on shares of Textron from $90.00 to $84.00 and set a “positive” rating for the company in a research report on Friday, July 29th. Finally, Sanford C. Bernstein began coverage on shares of Textron in a report on Tuesday, September 13th. They issued a “market perform” rating on the stock. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

Textron Price Performance

Textron stock opened at $62.83 on Monday. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.27 and a beta of 1.55. Textron Inc. has a 52-week low of $57.11 and a 52-week high of $79.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.22 and a current ratio of 2.30. The stock’s 50 day moving average price is $64.28 and its two-hundred day moving average price is $65.99.

Textron (NYSE:TXTGet Rating) last issued its earnings results on Thursday, July 28th. The aerospace company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.12. Textron had a net margin of 6.43% and a return on equity of 12.25%. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same period in the prior year, the firm earned $0.81 earnings per share. Textron’s revenue was down 1.2% on a year-over-year basis. On average, equities analysts predict that Textron Inc. will post 3.97 earnings per share for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Thursday, September 8th. Textron’s payout ratio is 2.20%.

Textron Profile

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Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company's 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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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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