National Pension Service Boosts Holdings in Textron Inc. (NYSE:TXT)

National Pension Service raised its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 2.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 368,481 shares of the aerospace company's stock after acquiring an additional 9,491 shares during the period. National Pension Service owned approximately 0.20% of Textron worth $32,640,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TXT. Davis Investment Partners LLC boosted its stake in shares of Textron by 0.8% in the third quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company's stock valued at $1,290,000 after purchasing an additional 118 shares during the period. Altman Advisors Inc. boosted its position in Textron by 0.6% in the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company's stock valued at $1,894,000 after buying an additional 129 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Textron by 0.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company's stock worth $1,558,000 after acquiring an additional 146 shares in the last quarter. Creative Planning increased its position in shares of Textron by 0.4% during the third quarter. Creative Planning now owns 37,304 shares of the aerospace company's stock worth $3,304,000 after acquiring an additional 165 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Textron by 4.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company's stock valued at $353,000 after acquiring an additional 175 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Performance

NYSE:TXT traded down $0.39 during trading hours on Friday, reaching $87.48. 865,944 shares of the company's stock were exchanged, compared to its average volume of 1,082,754. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $16.23 billion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 1.59 and a beta of 1.24. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33. The company has a 50-day moving average of $86.63 and a 200 day moving average of $87.43.

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 (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 in the prior year, the business earned $1.49 EPS. The business's quarterly revenue was up 2.5% compared to the same quarter last year. Research analysts anticipate that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

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 given a $0.02 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron's dividend payout ratio (DPR) is 1.76%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TXT. UBS Group reduced their price objective on shares of Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a report on Friday, October 25th. TD Cowen cut Textron from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Citigroup raised their target price on Textron from $111.00 to $115.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. StockNews.com lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a research report on Monday, October 14th. One 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. According to data from MarketBeat, Textron currently has a consensus rating of "Moderate Buy" and an average target price of $101.56.

About Textron

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.