Jacobs Levy Equity Management Inc. Acquires New Stake in Textron Inc. (NYSE:TXT)

Jacobs Levy Equity Management Inc. purchased a new stake in Textron Inc. (NYSE:TXT - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,347 shares of the aerospace company's stock, valued at approximately $828,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Empirical Finance LLC increased its stake in shares of Textron by 1.7% in the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company's stock valued at $624,000 after purchasing an additional 115 shares during the last quarter. Davis Investment Partners LLC grew its position in Textron by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company's stock worth $1,290,000 after acquiring an additional 118 shares during the last quarter. Apollon Wealth Management LLC grew its position in Textron by 4.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company's stock worth $235,000 after acquiring an additional 125 shares during the last quarter. Altman Advisors Inc. grew its position in Textron by 0.6% during the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company's stock worth $1,894,000 after acquiring an additional 129 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Textron by 0.8% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company's stock worth $1,558,000 after acquiring an additional 146 shares during the last quarter. Institutional investors own 86.03% of the company's stock.

Textron Stock Performance

Shares of TXT stock traded down $0.35 during trading on Tuesday, hitting $82.08. The company's stock had a trading volume of 1,150,442 shares, compared to its average volume of 1,081,514. The company has a market cap of $15.23 billion, a PE ratio of 18.04, a P/E/G ratio of 1.49 and a beta of 1.25. 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 business has a fifty day moving average of $85.26 and a 200-day moving average of $86.87. Textron Inc. has a 52 week low of $75.81 and a 52 week high of $97.33.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $1.49 earnings per share. As a group, research analysts anticipate that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Announces Dividend

The company 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 $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron's payout ratio is 1.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com lowered Textron from a "strong-buy" rating to a "buy" rating in a research report on Thursday, September 12th. UBS Group cut their target price on Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. cut their target price on Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. Robert W. Baird cut their target price on Textron from $109.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Finally, TD Cowen downgraded Textron from a "buy" rating to a "hold" rating and cut their target price for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus 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.