Massachusetts Financial Services Co. MA increased its position in shares of Textron Inc. (NYSE:TXT) by 20.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,471,553 shares of the aerospace company’s stock after acquiring an additional 253,335 shares during the period. Massachusetts Financial Services Co. MA owned about 0.59% of Textron worth $105,172,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Cookson Peirce & Co. Inc. grew its stake in Textron by 0.3% during the 3rd quarter. Cookson Peirce & Co. Inc. now owns 283,940 shares of the aerospace company’s stock worth $20,293,000 after buying an additional 770 shares during the last quarter. LMR Partners LLP lifted its holdings in shares of Textron by 20.4% in the 2nd quarter. LMR Partners LLP now owns 5,741 shares of the aerospace company’s stock valued at $378,000 after buying an additional 973 shares during the period. Aperio Group LLC lifted its holdings in shares of Textron by 0.8% in the 3rd quarter. Aperio Group LLC now owns 121,855 shares of the aerospace company’s stock valued at $8,709,000 after buying an additional 986 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Textron by 3.0% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 42,056 shares of the aerospace company’s stock valued at $2,772,000 after buying an additional 1,234 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of Textron by 3.9% in the 2nd quarter. Amalgamated Bank now owns 34,227 shares of the aerospace company’s stock valued at $2,256,000 after buying an additional 1,270 shares during the period. 84.22% of the stock is currently owned by institutional investors.
Shares of NYSE:TXT traded up $0.15 during midday trading on Thursday, reaching $54.82. The company’s stock had a trading volume of 1,358,426 shares, compared to its average volume of 2,082,417. The company has a market cap of $13.28 billion, a P/E ratio of 22.38, a P/E/G ratio of 1.05 and a beta of 1.66. The company has a quick ratio of 1.11, a current ratio of 2.29 and a debt-to-equity ratio of 0.70. Textron Inc. has a 1 year low of $51.49 and a 1 year high of $72.87.
Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 18th. The aerospace company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.15). The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Textron had a net margin of 6.11% and a return on equity of 13.72%. Textron’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.65 EPS. Sell-side analysts expect that Textron Inc. will post 3.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend is Thursday, December 13th. Textron’s dividend payout ratio (DPR) is 3.27%.
Several analysts have recently commented on the company. Jefferies Financial Group raised their price target on Textron to $82.00 and gave the company a “buy” rating in a report on Wednesday, September 26th. Zacks Investment Research cut Textron from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. Bank of America set a $78.00 price objective on Textron and gave the stock a “buy” rating in a report on Wednesday, July 25th. Morgan Stanley set a $71.00 price objective on Textron and gave the stock a “hold” rating in a report on Thursday, October 11th. Finally, Wells Fargo & Co dropped their price target on Textron from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $74.00.
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Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
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