Textron Inc. (NYSE:TXT) Shares Purchased by Acadian Asset Management LLC

Acadian Asset Management LLC raised its holdings in Textron Inc. (NYSE:TXT) by 566.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,252 shares of the aerospace company’s stock after purchasing an additional 29,965 shares during the quarter. Acadian Asset Management LLC’s holdings in Textron were worth $3,025,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Securities Inc. purchased a new stake in shares of Textron during the fourth quarter worth approximately $78,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Textron by 11.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,677 shares of the aerospace company’s stock valued at $296,000 after acquiring an additional 384 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of Textron during the fourth quarter worth about $201,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Textron by 4.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,645 shares of the aerospace company’s stock worth $15,672,000 after purchasing an additional 9,389 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Textron by 21.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 27,338 shares of the aerospace company’s stock valued at $2,199,000 after purchasing an additional 4,789 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Up 0.9 %

Shares of NYSE TXT opened at $87.70 on Friday. The firm’s 50-day moving average is $88.66 and its two-hundred day moving average is $89.32. The company has a market capitalization of $16.43 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.37 and a beta of 1.23. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.06. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. Textron’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 earnings per share. Equities analysts anticipate that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, September 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is currently 1.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TXT. TD Cowen increased their target price on Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Citigroup increased their price objective on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research report on Thursday, August 8th. Bank of America increased their price target on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, UBS Group boosted their price objective on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.50.

About Textron

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.