DRW Securities LLC Buys Shares of 5,907 Textron Inc. (NYSE:TXT)

DRW Securities LLC bought a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,907 shares of the aerospace company's stock, valued at approximately $523,000.

A number of other hedge funds also recently modified their holdings of TXT. Empirical Finance LLC increased its position in Textron by 1.7% in the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company's stock worth $624,000 after purchasing an additional 115 shares during the last quarter. Davis Investment Partners LLC increased its holdings in Textron by 0.8% in the third quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company's stock worth $1,290,000 after buying an additional 118 shares during the last quarter. Apollon Wealth Management LLC grew its position in Textron by 4.9% in the third 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 in the last quarter. Altman Advisors Inc. grew its position in Textron by 0.6% in the second 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 in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of 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 purchasing an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. TD Cowen cut shares of Textron from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. reduced their target price on Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, October 14th. StockNews.com downgraded Textron from a "strong-buy" rating to a "buy" rating in a report on Thursday, September 12th. Morgan Stanley cut shares of Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 price objective for the company. in a research note on Thursday, August 8th. Finally, Robert W. Baird decreased their price target 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. One equities research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $101.56.

Textron Trading Down 0.0 %

TXT stock traded down $0.03 during midday trading on Wednesday, reaching $85.10. The stock had a trading volume of 664,708 shares, compared to its average volume of 1,085,491. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33. The firm has a market cap of $15.79 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.54 and a beta of 1.24. The business has a fifty day simple moving average of $85.90 and a two-hundred day simple moving average of $87.17.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the company earned $1.49 earnings per share. The company's quarterly revenue was up 2.5% on a year-over-year basis. As a group, research analysts expect that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $0.02 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron's dividend payout ratio (DPR) is presently 1.76%.

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.