Easterly Investment Partners LLC Increases Stock Holdings in Textron Inc. (NYSE:TXT)

Easterly Investment Partners LLC lifted its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 87.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,305 shares of the aerospace company's stock after buying an additional 19,304 shares during the period. Easterly Investment Partners LLC's holdings in Textron were worth $3,659,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Wedge Capital Management L L P NC bought a new stake in shares of Textron in the 2nd quarter worth approximately $64,319,000. Canada Pension Plan Investment Board grew its position in shares of Textron by 1,611.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company's stock worth $41,547,000 after buying an additional 407,800 shares during the last quarter. Brandes Investment Partners LP grew its position in shares of Textron by 20.0% in the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company's stock worth $133,096,000 after buying an additional 258,778 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Textron by 18.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company's stock worth $124,608,000 after buying an additional 231,173 shares during the last quarter. Finally, Fidelity National Financial Inc. bought a new stake in shares of Textron in the 2nd quarter worth approximately $19,748,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their price objective 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 cut Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. Morgan Stanley cut 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. UBS Group lowered their target price on Textron from $87.00 to $79.00 and set a "sell" rating for the company in a research note on Friday, October 25th. Finally, TD Cowen cut Textron from a "buy" rating to a "hold" rating and lowered their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Textron presently has an average rating of "Moderate Buy" and a consensus price target of $101.56.

Textron Stock Down 0.4 %

NYSE:TXT traded down $0.31 during trading hours on Friday, reaching $87.56. 1,249,369 shares of the company traded hands, compared to its average volume of 1,084,526. The business's 50-day moving average price is $86.63 and its two-hundred day moving average price is $87.43. The stock has a market capitalization of $16.24 billion, a P/E 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 current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 EPS 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 business 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 earned $1.49 earnings per share. The company's quarterly revenue was up 2.5% on a year-over-year basis. Analysts predict that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron's 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.