Intech Investment Management LLC Increases Stock Holdings in Textron Inc. (NYSE:TXT)

Intech Investment Management LLC raised its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 116.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,718 shares of the aerospace company's stock after acquiring an additional 8,997 shares during the period. Intech Investment Management LLC's holdings in Textron were worth $1,481,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TXT. Lazard Asset Management LLC lifted its stake in Textron by 57.2% during the 1st quarter. Lazard Asset Management LLC now owns 695 shares of the aerospace company's stock valued at $66,000 after acquiring an additional 253 shares during the period. Bayesian Capital Management LP acquired a new stake in Textron during the 1st quarter valued at approximately $297,000. B. Riley Wealth Advisors Inc. lifted its stake in Textron by 17.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,402 shares of the aerospace company's stock valued at $422,000 after acquiring an additional 640 shares during the period. California State Teachers Retirement System lifted its stake in Textron by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 331,325 shares of the aerospace company's stock valued at $31,784,000 after acquiring an additional 3,767 shares during the period. Finally, Tidal Investments LLC lifted its stake in shares of Textron by 57.0% in the 1st quarter. Tidal Investments LLC now owns 10,868 shares of the aerospace company's stock valued at $1,043,000 after purchasing an additional 3,946 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Price Performance

Shares of Textron stock traded down $0.62 during trading hours on Tuesday, reaching $85.13. 849,055 shares of the company's stock were exchanged, compared to its average volume of 1,087,328. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The company has a market capitalization of $15.79 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. The business has a fifty day moving average of $85.97 and a two-hundred day moving average of $87.19. 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 released its 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 return on equity of 16.02% and a net margin of 6.30%. The business had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.50 billion. During the same period in the previous year, the company earned $1.49 EPS. Textron's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, research analysts predict that Textron Inc. will post 5.53 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis 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%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group decreased their target price on shares of Textron from $87.00 to $79.00 and set a "sell" rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their target price on shares of Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, October 14th. Morgan Stanley cut shares of Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th. StockNews.com cut shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. Finally, Robert W. Baird decreased their target price on shares of Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.