Textron Inc. (NYSE:TXT) Shares Bought by National Bank of Canada FI

National Bank of Canada FI boosted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 161.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 145,174 shares of the aerospace company's stock after buying an additional 89,724 shares during the period. National Bank of Canada FI owned 0.08% of Textron worth $12,860,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Empirical Finance LLC grew its position in Textron by 1.7% in the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company's stock worth $624,000 after acquiring an additional 115 shares during the period. Davis Investment Partners LLC raised its holdings in Textron by 0.8% in the 3rd quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company's stock valued at $1,290,000 after buying an additional 118 shares during the period. Apollon Wealth Management LLC lifted 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 valued at $235,000 after buying an additional 125 shares during the last quarter. Altman Advisors Inc. increased its position in shares of Textron by 0.6% during the second quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company's stock valued at $1,894,000 after acquiring an additional 129 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Textron by 0.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company's stock valued at $1,558,000 after acquiring an additional 146 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Up 0.1 %

NYSE:TXT traded up $0.06 during trading hours on Wednesday, hitting $82.13. The company's stock had a trading volume of 1,108,085 shares, compared to its average volume of 1,081,635. The stock has a market capitalization of $15.24 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 1.49 and a beta of 1.25. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average of $85.26 and a 200-day moving average of $86.87. Textron Inc. has a 52-week low of $76.89 and a 52-week high of $97.33.

Textron (NYSE:TXT - Get Free Report) last posted its 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). The business had revenue of $3.43 billion for the quarter, compared to analysts' expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. Textron's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 EPS. On average, equities analysts forecast that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a $0.02 dividend. 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 dividend payout ratio (DPR) is 1.76%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TXT shares. Robert W. Baird dropped their target price on shares of Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a report on Friday, October 25th. TD Cowen downgraded Textron from a "buy" rating to a "hold" rating and cut their price objective for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. UBS Group dropped their target price on Textron from $87.00 to $79.00 and set a "sell" rating for the company in a research report on Friday, October 25th. StockNews.com cut shares of Textron from a "strong-buy" rating to a "buy" rating in a research report on Thursday, September 12th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, October 14th. One 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.