KBC Group NV Takes $1.80 Million Position in Textron Inc. (NYSE:TXT)

KBC Group NV bought a new position in shares of Textron Inc. (NYSE:TXT) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 20,285 shares of the aerospace company’s stock, valued at approximately $1,797,000.

Other large investors have also made changes to their positions in the company. Boston Partners raised its holdings in Textron by 1.4% during the 1st quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock worth $682,475,000 after purchasing an additional 99,868 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Textron by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after buying an additional 160,923 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after buying an additional 258,778 shares during the period. AQR Capital Management LLC boosted its stake in Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after acquiring an additional 231,173 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Textron by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company’s stock worth $120,099,000 after acquiring an additional 6,175 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

TXT has been the topic of several recent research reports. UBS Group reduced 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. Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research report on Thursday, August 8th. Bank of America increased their price target on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Citigroup boosted their price objective on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Textron currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Stock Down 1.8 %

Shares of TXT stock opened at $83.34 on Tuesday. The company has a market capitalization of $15.46 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 1.53 and a beta of 1.24. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The firm has a fifty day moving average of $86.32 and a 200-day moving average of $87.31. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last released its 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). The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company posted $1.49 EPS. As a group, equities research analysts predict that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company 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 $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s payout ratio is 1.76%.

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.