Intech Investment Management LLC Raises Position in Textron Inc. (NYSE:TXT)

Intech Investment Management LLC lifted its stake in shares of Textron Inc. (NYSE:TXT) by 116.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,718 shares of the aerospace company’s stock after purchasing an additional 8,997 shares during the period. Intech Investment Management LLC’s holdings in Textron were worth $1,481,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TXT. Innealta Capital LLC purchased a new stake in shares of Textron during the 2nd quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Textron in the 2nd quarter valued at approximately $30,000. Oakworth Capital Inc. purchased a new position in Textron in the 2nd quarter valued at approximately $31,000. Family Firm Inc. purchased a new position in Textron in the 2nd quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP purchased a new position in Textron in the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

NYSE TXT opened at $85.73 on Tuesday. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The company has a market capitalization of $15.90 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.54 and a beta of 1.24. The company has a fifty day moving average of $85.97 and a 200-day moving average of $87.19.

Textron (NYSE:TXT) last posted its quarterly earnings data 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 the consensus estimate of $3.50 billion. During the same period in the prior year, the firm posted $1.49 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts predict that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio is currently 1.76%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research note on Thursday, August 8th. 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 note on Monday, October 14th. Robert W. Baird reduced their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.56.

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.