Textron Inc. (NYSE:TXT) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC raised its stake in Textron Inc. (NYSE:TXT) by 22.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,296 shares of the aerospace company’s stock after purchasing an additional 775 shares during the period. Larson Financial Group LLC’s holdings in Textron were worth $381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wedge Capital Management L L P NC purchased a new stake in shares of Textron during the 2nd quarter worth approximately $64,319,000. Brandes Investment Partners LP raised its stake in Textron by 20.0% during the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after acquiring an additional 258,778 shares in the last quarter. AQR Capital Management LLC lifted its position in Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after acquiring an additional 231,173 shares during the last quarter. Fidelity National Financial Inc. acquired a new position in Textron in the second quarter valued at $19,748,000. Finally, Distillate Capital Partners LLC grew its holdings in shares of Textron by 101,299.4% during the second quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company’s stock worth $14,278,000 after purchasing an additional 166,131 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Trading Down 0.7 %

Shares of Textron stock opened at $85.13 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm has a market cap of $15.79 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The company’s 50-day simple moving average is $85.97 and its 200-day simple moving average is $87.19.

Textron (NYSE:TXT) last released its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 EPS. As a group, equities research analysts anticipate that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio (DPR) is currently 1.76%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TXT. TD Cowen cut Textron from a “buy” rating to a “hold” rating and decreased their target price for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. UBS Group lowered their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. cut their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research note on Thursday, August 8th. Finally, Robert W. Baird reduced their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The 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.