Bank of Montreal Can Increases Position in Textron Inc. (TXT)

Bank of Montreal Can increased its stake in Textron Inc. (NYSE:TXT) by 21.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 135,547 shares of the aerospace company’s stock after acquiring an additional 23,986 shares during the period. Bank of Montreal Can owned about 0.05% of Textron worth $9,687,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Centaurus Financial Inc. purchased a new position in Textron in the second quarter worth $105,000. BlueMountain Capital Management LLC purchased a new position in Textron in the second quarter worth $139,000. Piedmont Investment Advisors LLC purchased a new position in Textron in the second quarter worth $197,000. Legacy Financial Advisors Inc. purchased a new position in Textron in the second quarter worth $203,000. Finally, Colony Group LLC purchased a new position in Textron in the second quarter worth $202,000. Institutional investors own 82.72% of the company’s stock.

NYSE TXT opened at $53.41 on Friday. The company has a quick ratio of 0.84, a current ratio of 2.02 and a debt-to-equity ratio of 0.55. Textron Inc. has a 12-month low of $52.33 and a 12-month high of $72.87. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 1.47 and a beta of 1.40.



Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 18th. The aerospace company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.15). Textron had a net margin of 6.11% and a return on equity of 13.72%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter in the previous year, the company earned $0.65 earnings per share. The business’s quarterly revenue was down 8.2% on a year-over-year basis. Sell-side analysts predict that Textron Inc. will post 3.2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.15%. Textron’s payout ratio is 3.27%.

TXT has been the subject of several research reports. Jefferies Financial Group upped their target price on shares of Textron to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Zacks Investment Research lowered shares of Textron from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Wells Fargo & Co cut their price target on shares of Textron from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Bank of America set a $78.00 price target on shares of Textron and gave the company a “buy” rating in a research report on Wednesday, July 25th. Finally, ValuEngine lowered shares of Textron from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $74.64.

In other news, VP Julie G. Duffy sold 6,562 shares of the stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $68.13, for a total transaction of $447,069.06. Following the completion of the sale, the vice president now directly owns 22,535 shares in the company, valued at $1,535,309.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP E Robert Lupone sold 45,000 shares of the stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $67.50, for a total transaction of $3,037,500.00. Following the sale, the executive vice president now owns 121,838 shares of the company’s stock, valued at $8,224,065. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Textron Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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