KBC Group NV Makes New $1.80 Million Investment in Textron Inc. (NYSE:TXT)

KBC Group NV purchased a new position in shares of Textron Inc. (NYSE:TXT - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 20,285 shares of the aerospace company's stock, valued at approximately $1,797,000.

A number of other hedge funds also recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Textron by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 471,039 shares of the aerospace company's stock worth $41,725,000 after purchasing an additional 4,327 shares during the period. GSA Capital Partners LLP boosted its position in Textron by 144.3% in the third quarter. GSA Capital Partners LLP now owns 13,862 shares of the aerospace company's stock worth $1,228,000 after purchasing an additional 8,188 shares during the last quarter. Apollon Wealth Management LLC boosted 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 purchasing an additional 125 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Textron during the 3rd quarter worth approximately $655,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company's stock worth $50,000 after purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup lifted their price target on Textron from $111.00 to $115.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. UBS Group cut their price objective 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. Robert W. Baird cut their price objective 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. Bank of America upped their price objective on shares of Textron from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Finally, 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. 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's stock. According to MarketBeat, Textron currently has an average rating of "Moderate Buy" and an average target price of $101.56.

Textron Trading Down 2.5 %

NYSE TXT traded down $2.09 during trading on Tuesday, hitting $81.25. The company had a trading volume of 1,508,279 shares, compared to its average volume of 1,088,718. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. Textron Inc. has a one year low of $74.13 and a one year high of $97.33. The company has a market cap of $15.07 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24. The company's fifty day moving average is $86.22 and its 200-day moving average is $87.28.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the firm earned $1.49 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. On average, sell-side analysts predict that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid 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 is Friday, December 13th. Textron's dividend payout ratio is 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.