Tokio Marine Asset Management Co. Ltd. raised its position in Textron Inc. (NYSE:TXT) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,723 shares of the company’s stock after buying an additional 651 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Textron were worth $355,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in TXT. Meeder Asset Management Inc. raised its stake in shares of Textron by 225.8% in the second quarter. Meeder Asset Management Inc. now owns 3,323 shares of the company’s stock worth $121,000 after buying an additional 2,303 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Textron by 245.7% in the first quarter. IFP Advisors Inc now owns 5,082 shares of the company’s stock worth $185,000 after buying an additional 3,612 shares in the last quarter. Creative Planning raised its stake in shares of Textron by 24.7% in the second quarter. Creative Planning now owns 5,485 shares of the company’s stock worth $201,000 after buying an additional 1,087 shares in the last quarter. ING Groep NV acquired a new stake in shares of Textron during the first quarter worth approximately $227,000. Finally, Conning Inc. raised its stake in shares of Textron by 0.3% in the second quarter. Conning Inc. now owns 6,409 shares of the company’s stock worth $234,000 after buying an additional 20 shares in the last quarter. 80.63% of the stock is currently owned by institutional investors and hedge funds.
Textron Inc. (NYSE:TXT) traded up 0.18% during trading on Wednesday, hitting $37.97. 1,054,371 shares of the company traded hands. The stock has a 50 day moving average price of $39.92 and a 200 day moving average price of $38.67. Textron Inc. has a 12-month low of $30.69 and a 12-month high of $43.93. The company has a market capitalization of $10.23 billion, a P/E ratio of 14.33 and a beta of 1.65.
Textron (NYSE:TXT) last issued its earnings results on Friday, July 22nd. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Textron had a return on equity of 14.72% and a net margin of 5.28%. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same period last year, the business earned $0.60 EPS. Textron’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts anticipate that Textron Inc. will post $2.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Friday, September 9th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Wednesday, September 7th. Textron’s dividend payout ratio is currently 3.02%.
A number of analysts have recently commented on the stock. Credit Suisse Group AG reissued a “buy” rating on shares of Textron in a research report on Saturday, July 9th. Drexel Hamilton restated a “hold” rating on shares of Textron in a report on Wednesday, August 31st. Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “sell” rating in a report on Friday, September 2nd. Jefferies Group set a $50.00 target price on shares of Textron and gave the stock a “buy” rating in a report on Thursday, October 6th. Finally, Robert W. Baird began coverage on shares of Textron in a report on Wednesday, October 5th. They set an “outperform” rating and a $48.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $46.74.
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. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.