Oppenheimer & Co. Inc. Buys 222 Shares of Textron Inc. (NYSE:TXT)

Oppenheimer & Co. Inc. increased its stake in Textron Inc. (NYSE:TXTGet Rating) by 5.8% in the second quarter, Holdings Channel reports. The institutional investor owned 4,047 shares of the aerospace company’s stock after acquiring an additional 222 shares during the period. Oppenheimer & Co. Inc.’s holdings in Textron were worth $247,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TXT. Vanguard Group Inc. lifted its position in shares of Textron by 0.8% during the first quarter. Vanguard Group Inc. now owns 23,503,096 shares of the aerospace company’s stock worth $1,748,161,000 after purchasing an additional 177,502 shares during the last quarter. BlackRock Inc. lifted its position in shares of Textron by 7.2% during the first quarter. BlackRock Inc. now owns 16,846,222 shares of the aerospace company’s stock worth $1,253,022,000 after purchasing an additional 1,126,776 shares during the last quarter. Invesco Ltd. lifted its position in shares of Textron by 1.3% during the first quarter. Invesco Ltd. now owns 10,564,768 shares of the aerospace company’s stock worth $785,807,000 after purchasing an additional 140,246 shares during the last quarter. State Street Corp lifted its position in shares of Textron by 0.5% during the first quarter. State Street Corp now owns 9,564,040 shares of the aerospace company’s stock worth $711,561,000 after purchasing an additional 47,344 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Textron by 711.4% during the first quarter. JPMorgan Chase & Co. now owns 2,427,439 shares of the aerospace company’s stock worth $180,554,000 after purchasing an additional 2,128,278 shares during the last quarter. 87.80% of the stock is currently owned by institutional investors.

Textron Price Performance

TXT opened at $70.07 on Friday. The business’s 50-day moving average is $64.29 and its two-hundred day moving average is $63.93. Textron Inc. has a 1 year low of $57.11 and a 1 year high of $79.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.22 and a quick ratio of 1.17. The firm has a market capitalization of $14.63 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.14 and a beta of 1.52.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 9th will be paid a $0.02 dividend. The ex-dividend date is Thursday, December 8th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 2.07%.

Analyst Ratings Changes

Several analysts recently weighed in on TXT shares. Cfra lifted their price objective on Textron to $73.00 in a report on Tuesday, August 9th. Sanford C. Bernstein started coverage on Textron in a report on Tuesday, September 13th. They issued a “market perform” rating for the company. Morgan Stanley decreased their price objective on Textron from $90.00 to $84.00 and set an “overweight” rating for the company in a report on Friday, October 28th. Susquehanna Bancshares decreased their price objective on Textron from $90.00 to $84.00 and set a “positive” rating for the company in a report on Friday, July 29th. Finally, Bank of America decreased their price objective on Textron from $74.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, July 28th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $79.40.

Textron Company 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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