BNP Paribas Financial Markets Raises Stock Position in Textron Inc. (NYSE:TXT)

BNP Paribas Financial Markets grew its holdings in Textron Inc. (NYSE:TXT - Free Report) by 14.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 398,366 shares of the aerospace company's stock after acquiring an additional 50,936 shares during the period. BNP Paribas Financial Markets owned about 0.21% of Textron worth $35,287,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Textron during the third quarter worth about $140,000. Quantbot Technologies LP acquired a new stake in shares of Textron during the 3rd quarter worth approximately $2,221,000. Bank of Montreal Can increased its holdings in shares of Textron by 0.4% during the 3rd quarter. Bank of Montreal Can now owns 190,615 shares of the aerospace company's stock valued at $16,726,000 after purchasing an additional 772 shares in the last quarter. Hancock Whitney Corp acquired a new position in shares of Textron in the 3rd quarter valued at $214,000. Finally, Truvestments Capital LLC purchased a new stake in Textron during the third quarter worth $43,000. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Price Performance

NYSE TXT traded up $0.55 during mid-day trading on Friday, hitting $85.63. The stock had a trading volume of 587,996 shares, compared to its average volume of 1,083,339. The firm's 50 day moving average is $85.73 and its 200 day moving average is $87.13. 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 stock has a market capitalization of $15.89 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.53 and a beta of 1.24. Textron Inc. has a twelve month low of $74.61 and a twelve month high of $97.33.

Textron (NYSE:TXT - Get Free Report) last issued its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.09). The business had revenue of $3.43 billion during 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%. Textron's quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $1.49 earnings per share. Equities research analysts forecast that Textron Inc. will post 5.53 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, December 13th. Textron's dividend payout ratio is currently 1.76%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TXT shares. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, October 14th. Robert W. Baird lowered their price target on Textron from $109.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. UBS Group cut their price objective 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 downgraded Textron from a "buy" rating to a "hold" rating and reduced their target price for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, StockNews.com cut shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. One investment 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. According to MarketBeat.com, the company has an average 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.