Groupama Asset Managment Buys New Stake in Textron Inc. (NYSE:TXT)

Groupama Asset Managment purchased a new position in Textron Inc. (NYSE:TXT - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,372 shares of the aerospace company's stock, valued at approximately $742,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Innealta Capital LLC bought a new stake in Textron in the 2nd quarter worth approximately $25,000. True Wealth Design LLC purchased a new position in Textron in the third quarter worth about $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Textron during the 2nd quarter valued at about $30,000. Oakworth Capital Inc. purchased a new stake in shares of Textron during the 2nd quarter valued at about $31,000. Finally, Family Firm Inc. bought a new position in shares of Textron in the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Stock Performance

Shares of NYSE:TXT traded down $0.35 on Tuesday, hitting $82.08. 1,150,442 shares of the company were exchanged, compared to its average volume of 1,081,514. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The stock's 50 day moving average price is $85.26 and its 200 day moving average price is $86.87. Textron Inc. has a 1-year low of $75.81 and a 1-year high of $97.33. The firm has a market capitalization of $15.23 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 1.49 and a beta of 1.25.

Textron (NYSE:TXT - Get Free Report) last announced 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). The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The business's revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 earnings per share. Sell-side analysts predict that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron's payout ratio is currently 1.76%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TXT. StockNews.com downgraded shares of Textron from a "strong-buy" rating to a "buy" rating in a research report on Thursday, September 12th. UBS Group reduced their price target on Textron from $87.00 to $79.00 and set a "sell" rating for the company in a research report on Friday, October 25th. TD Cowen cut Textron from a "buy" rating to a "hold" rating and lowered their price objective for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. 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. Finally, JPMorgan Chase & Co. lowered their price target 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.