BNP Paribas Financial Markets Purchases 50,936 Shares of Textron Inc. (NYSE:TXT)

BNP Paribas Financial Markets boosted its position in Textron Inc. (NYSE:TXT) by 14.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 398,366 shares of the aerospace company’s stock after acquiring an additional 50,936 shares during the quarter. BNP Paribas Financial Markets owned 0.21% of Textron worth $35,287,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers boosted its position in Textron by 579.5% in the first quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock valued at $4,862,000 after buying an additional 43,225 shares in the last quarter. Easterly Investment Partners LLC boosted its position in Textron by 87.7% in the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock valued at $3,659,000 after buying an additional 19,304 shares in the last quarter. KBC Group NV acquired a new stake in Textron in the third quarter valued at approximately $1,797,000. Atria Investments Inc acquired a new stake in Textron in the first quarter valued at approximately $1,204,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in Textron by 13.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock valued at $43,884,000 after buying an additional 57,967 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Textron Price Performance

TXT stock opened at $85.63 on Friday. The firm has a market cap of $15.89 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.53 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. Textron Inc. has a 12-month low of $74.61 and a 12-month high of $97.33. The company’s fifty day simple moving average is $85.77 and its 200 day simple moving average is $87.14.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the firm posted $1.49 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts expect that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TXT shares. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and cut their price target for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. UBS Group cut their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Robert W. Baird cut their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.