Allspring Global Investments Holdings LLC Trims Holdings in Textron Inc. (NYSE:TXT)
Posted by MarketBeat News on Jan 22nd, 2023
Allspring Global Investments Holdings LLC lessened its stake in Textron Inc. (NYSE:TXT – Get Rating) by 3.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 19,371 shares of the aerospace company's stock after selling 652 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Textron were worth $1,127,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in Textron by 65.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,310,435 shares of the aerospace company's stock valued at $135,645,000 after acquiring an additional 915,068 shares during the period. JPMorgan Chase & Co. grew its position in shares of Textron by 36.7% in the second quarter. JPMorgan Chase & Co. now owns 3,318,093 shares of the aerospace company's stock valued at $202,636,000 after purchasing an additional 890,654 shares during the last quarter. Mariner LLC lifted its position in shares of Textron by 2,973.5% in the first quarter. Mariner LLC now owns 471,666 shares of the aerospace company's stock valued at $35,083,000 after acquiring an additional 456,320 shares in the last quarter. FMR LLC boosted its stake in shares of Textron by 28.5% during the second quarter. FMR LLC now owns 1,738,042 shares of the aerospace company's stock valued at $106,143,000 after acquiring an additional 385,477 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Textron by 88.7% during the 2nd quarter. Bank of Montreal Can now owns 380,708 shares of the aerospace company's stock worth $25,639,000 after purchasing an additional 178,939 shares during the last quarter. Hedge funds and other institutional investors own 84.69% of the company's stock.
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Textron Trading Up 2.2 %
NYSE TXT opened at $67.85 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.17 and a current ratio of 2.22. Textron Inc. has a one year low of $57.11 and a one year high of $76.11. The company has a 50-day simple moving average of $70.56 and a 200-day simple moving average of $66.22. The firm has a market capitalization of $14.17 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.04 and a beta of 1.48.
Textron (NYSE:TXT – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The aerospace company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.12. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.21 billion. Textron had a return on equity of 12.40% and a net margin of 6.71%. On average, equities analysts forecast that Textron Inc. will post 3.95 earnings per share for the current year.
Textron Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Investors of record on Friday, December 9th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Thursday, December 8th. Textron's dividend payout ratio is currently 2.07%.
Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Textron from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 6th. Morgan Stanley reduced their price objective on Textron from $90.00 to $84.00 and set an "overweight" rating on the stock in a research note on Friday, October 28th. Finally, The Goldman Sachs Group lifted their price objective on shares of Textron from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Thursday, December 15th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Textron has an average rating of "Moderate Buy" and a consensus target price of $81.67.
About Textron
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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