Textron Inc. (NYSE:TXT) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 10.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 164,029 shares of the aerospace company's stock after purchasing an additional 15,294 shares during the period. Franklin Resources Inc. owned about 0.09% of Textron worth $14,505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TXT. Brandes Investment Partners LP increased its position in Textron by 20.0% during the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company's stock worth $133,096,000 after buying an additional 258,778 shares during the period. AQR Capital Management LLC grew its position in shares of Textron by 18.9% during the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company's stock worth $124,608,000 after acquiring an additional 231,173 shares during the last quarter. Fidelity National Financial Inc. acquired a new position in shares of Textron in the 2nd quarter valued at $19,748,000. Distillate Capital Partners LLC raised its position in Textron by 101,299.4% in the 2nd quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company's stock valued at $14,278,000 after purchasing an additional 166,131 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Textron by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company's stock worth $241,152,000 after purchasing an additional 160,923 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on TXT. TD Cowen raised shares of Textron to a "hold" rating in a report on Thursday. UBS Group decreased 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. Robert W. Baird dropped 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. JPMorgan Chase & Co. cut their price target on Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, October 14th. Finally, StockNews.com lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a research report on Thursday, September 12th. 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. According to MarketBeat.com, Textron presently has an average rating of "Moderate Buy" and a consensus target price of $101.56.

Textron Trading Up 1.4 %

Textron stock traded up $1.03 during midday trading on Friday, reaching $76.85. The stock had a trading volume of 3,646,143 shares, compared to its average volume of 1,096,663. The stock has a market capitalization of $14.26 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. 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 stock's 50-day simple moving average is $84.12 and its 200 day simple moving average is $86.44. Textron Inc. has a twelve month low of $75.36 and a twelve month high of $97.33.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates 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 company's quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $1.49 earnings per share. Analysts expect that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Friday, December 13th. Textron's dividend payout ratio (DPR) is presently 1.76%.

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.