Intech Investment Management LLC Acquires 8,997 Shares of Textron Inc. (NYSE:TXT)

Intech Investment Management LLC boosted its holdings in Textron Inc. (NYSE:TXT) by 116.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,718 shares of the aerospace company’s stock after purchasing an additional 8,997 shares during the period. Intech Investment Management LLC’s holdings in Textron were worth $1,481,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TXT. Wedge Capital Management L L P NC bought a new stake in Textron in the second quarter worth $64,319,000. Brandes Investment Partners LP lifted its stake in Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after purchasing an additional 258,778 shares during the last quarter. AQR Capital Management LLC lifted its stake 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 worth $124,608,000 after purchasing an additional 231,173 shares during the last quarter. Fidelity National Financial Inc. purchased a new position in shares of Textron in the second quarter valued at about $19,748,000. Finally, Distillate Capital Partners LLC increased its position in shares of Textron by 101,299.4% in the second quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company’s stock valued at $14,278,000 after acquiring an additional 166,131 shares during the period. 86.03% of the stock is owned by institutional investors.

Textron Price Performance

Shares of NYSE TXT opened at $85.73 on Tuesday. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The company’s 50-day moving average is $85.97 and its 200 day moving average is $87.19. The stock has a market capitalization of $15.90 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.54 and a beta of 1.24.

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

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $0.02 per share. 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 payout ratio is currently 1.76%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TXT shares. UBS Group decreased their price objective 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. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Robert W. Baird decreased their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research report on Thursday, August 8th. Finally, TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and decreased their price objective for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Textron has a consensus rating of “Moderate Buy” and an average target price of $101.56.

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.