Wellington Management Group LLP Buys 61,248 Shares of Textron Inc. (NYSE:TXT)

Wellington Management Group LLP boosted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 18.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,475 shares of the aerospace company's stock after buying an additional 61,248 shares during the quarter. Wellington Management Group LLP owned approximately 0.22% of Textron worth $35,563,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TXT. Innealta Capital LLC purchased a new stake in shares of Textron during the second quarter worth $25,000. True Wealth Design LLC purchased a new position in shares of Textron during the third quarter worth approximately $26,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Textron in the second quarter valued at $30,000. Oakworth Capital Inc. acquired a new position in shares of Textron during the 2nd quarter worth $31,000. Finally, Family Firm Inc. acquired a new position in Textron in the 2nd quarter valued at about $40,000. Institutional investors own 86.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TXT shares. UBS Group dropped their price target on Textron from $87.00 to $79.00 and set a "sell" rating on the stock in a research report on Friday, October 25th. Robert W. Baird reduced their price target on Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. TD Cowen downgraded Textron from a "buy" rating to a "hold" rating and reduced their target price for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com lowered Textron from a "strong-buy" rating to a "buy" rating in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. One research 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $101.56.

Textron Stock Performance

Shares of TXT stock traded down $0.14 during trading hours on Friday, reaching $80.93. 243,396 shares of the company's stock were exchanged, compared to its average volume of 1,077,303. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. Textron Inc. has a 1 year low of $76.98 and a 1 year high of $97.33. The company's 50 day moving average is $85.06 and its two-hundred day moving average is $86.80. The company has a market cap of $15.01 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 1.48 and a beta of 1.25.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the business earned $1.49 EPS. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Textron Inc. will post 5.52 EPS for the current fiscal 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 issued 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 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.