Bank of Montreal Can increased its holdings in shares of Textron Inc. (NYSE:TXT – Get Rating) by 88.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 380,708 shares of the aerospace company’s stock after buying an additional 178,939 shares during the period. Bank of Montreal Can owned about 0.18% of Textron worth $25,639,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in TXT. JPMorgan Chase & Co. boosted its position in Textron by 711.4% during the 1st quarter. JPMorgan Chase & Co. now owns 2,427,439 shares of the aerospace company’s stock worth $180,554,000 after buying an additional 2,128,278 shares during the period. Aaron Wealth Advisors LLC acquired a new position in shares of Textron in the 1st quarter worth approximately $17,117,000. BlackRock Inc. lifted its position in shares of Textron by 7.2% in the 1st 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 period. Mariner LLC lifted its position in shares of Textron by 2,973.5% in the 1st quarter. Mariner LLC now owns 471,666 shares of the aerospace company’s stock worth $35,083,000 after purchasing an additional 456,320 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Textron by 0.8% in the 1st 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 period. 87.80% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 6th. Morgan Stanley lowered their price objective on shares of Textron from $90.00 to $84.00 and set an “overweight” rating for the company in a research note on Friday, October 28th. Susquehanna Bancshares lowered their price objective on shares of Textron from $90.00 to $84.00 and set a “positive” rating for the company in a research note on Friday, July 29th. Cfra lifted their price objective on shares of Textron to $73.00 in a research note on Tuesday, August 9th. Finally, Sanford C. Bernstein started coverage on shares of Textron in a research note on Tuesday, September 13th. They issued a “market perform” rating for the company. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.40.
Textron Stock Performance
Textron Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 9th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 2.07%.
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.
- Get a free copy of the StockNews.com research report on Textron (TXT)
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