Textron Inc. (NYSE:TXT) Stock Position Raised by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lifted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 57.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,094 shares of the aerospace company's stock after buying an additional 5,880 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Textron were worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Textron in the 2nd quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Textron during the second quarter worth $30,000. Oakworth Capital Inc. bought a new position in shares of Textron in the 2nd quarter worth about $31,000. Family Firm Inc. acquired a new position in shares of Textron in the 2nd quarter valued at about $40,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Textron during the 3rd quarter valued at about $42,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Price Performance

Shares of TXT stock traded up $0.21 during midday trading on Wednesday, reaching $85.34. 235,431 shares of the company were exchanged, compared to its average volume of 1,083,560. The company's 50 day moving average price is $85.90 and its two-hundred day moving average price is $87.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The company has a market cap of $15.83 billion, a P/E ratio of 18.86, a PEG ratio of 1.54 and a beta of 1.24. Textron Inc. has a 12 month low of $74.13 and a 12 month high of $97.33.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm 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 business posted $1.49 earnings per share. The business's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, sell-side analysts expect that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Dividend Announcement

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

Analyst Upgrades and Downgrades

TXT has been the topic of a number of recent research reports. UBS Group cut their target price on shares of Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a report on Friday, October 25th. Robert W. Baird reduced their price objective on Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. TD Cowen lowered Textron from a "buy" rating to a "hold" rating and dropped their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Morgan Stanley downgraded shares of Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. dropped their price objective 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 assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average 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.