Franklin Resources Inc. Acquires 15,294 Shares of Textron Inc. (NYSE:TXT)

Franklin Resources Inc. raised its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,029 shares of the aerospace company's stock after buying an additional 15,294 shares during the quarter. Franklin Resources Inc. owned about 0.09% of Textron worth $14,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Innealta Capital LLC bought a new position in Textron during the second quarter valued at approximately $25,000. True Wealth Design LLC bought a new position in shares of Textron during the 3rd quarter valued at approximately $26,000. Family Firm Inc. purchased a new position in shares of Textron in the second quarter valued at $40,000. Capital Performance Advisors LLP bought a new stake in Textron in the third quarter worth $42,000. Finally, Truvestments Capital LLC purchased a new stake in Textron during the third quarter valued at $43,000. Institutional investors own 86.03% of the company's stock.

Textron Trading Up 1.4 %

TXT stock traded up $1.03 during trading on Friday, hitting $76.85. The company had a trading volume of 3,646,143 shares, compared to its average volume of 1,096,663. Textron Inc. has a 52-week low of $75.36 and a 52-week high of $97.33. The company has a 50 day simple moving average of $84.12 and a 200-day simple moving average of $86.44. The firm has a market capitalization of $14.26 billion, a P/E ratio of 16.89, a PEG ratio of 1.46 and a beta of 1.25. 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 (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). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.50 billion. During the same period last year, the business posted $1.49 earnings per share. The business's revenue was up 2.5% compared to the same quarter last year. As a group, research analysts forecast that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Wall Street Analysts Forecast Growth

TXT has been the topic of a number of research reports. StockNews.com downgraded shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Thursday, September 12th. JPMorgan Chase & Co. decreased their price objective on Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a research 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 research report on Friday, October 25th. UBS Group decreased their price target on Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a report on Friday, October 25th. Finally, TD Cowen raised shares of Textron to a "hold" rating in a research note on Thursday. One investment 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 data from MarketBeat, Textron has an average rating of "Moderate Buy" and a consensus 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.