MBB Public Markets I LLC Invests $1.26 Million in Textron Inc. (NYSE:TXT)

MBB Public Markets I LLC purchased a new stake in Textron Inc. (NYSE:TXT) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,625 shares of the aerospace company’s stock, valued at approximately $1,256,000.

A number of other hedge funds have also recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its position in shares of Textron by 1.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 15,866 shares of the aerospace company’s stock worth $1,276,000 after acquiring an additional 260 shares during the last quarter. Bank of Nova Scotia grew its holdings in Textron by 154.6% during the fourth quarter. Bank of Nova Scotia now owns 47,126 shares of the aerospace company’s stock worth $3,790,000 after acquiring an additional 28,619 shares during the period. California State Teachers Retirement System increased its holdings in shares of Textron by 3.4% in the 4th quarter. California State Teachers Retirement System now owns 327,558 shares of the aerospace company’s stock valued at $26,342,000 after purchasing an additional 10,863 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Textron by 200.0% in the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after buying an additional 338 shares in the last quarter. Finally, NEOS Investment Management LLC purchased a new position in Textron in the 4th quarter valued at approximately $224,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TXT shares. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and reduced their price target for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Bank of America upped their price objective on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Citigroup increased their target price on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $101.50.

Textron Trading Up 0.9 %

NYSE:TXT opened at $88.56 on Tuesday. 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. The business has a 50 day simple moving average of $88.20 and a 200 day simple moving average of $89.11. The firm has a market capitalization of $16.59 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.39 and a beta of 1.23.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.06. The business 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%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. Equities research analysts predict that Textron Inc. will post 6.18 EPS for the current 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. 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, September 13th. Textron’s payout ratio is currently 1.71%.

Textron Company 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.