TD Asset Management Inc Raises Holdings in Textron Inc. (NYSE:TXT)

TD Asset Management Inc raised its position in shares of Textron Inc. (NYSE:TXT) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,087,342 shares of the aerospace company’s stock after acquiring an additional 33,394 shares during the period. TD Asset Management Inc owned approximately 0.58% of Textron worth $93,359,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TXT. Boston Partners grew its holdings in shares of 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 period. LSV Asset Management increased its position in shares of Textron by 6.9% in the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after acquiring an additional 260,003 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Textron by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,692,173 shares of the aerospace company’s stock valued at $136,085,000 after acquiring an additional 19,769 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of 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 valued at $120,099,000 after acquiring an additional 6,175 shares in the last quarter. Finally, Brandes Investment Partners LP lifted its holdings in shares of Textron by 49.3% during the 4th quarter. Brandes Investment Partners LP now owns 1,235,966 shares of the aerospace company’s stock valued at $99,396,000 after acquiring an additional 408,290 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on TXT shares. Bank of America raised their price objective on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Citigroup increased their target price on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. UBS Group upped their price target on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a report on Friday, July 19th. Finally, TD Cowen lifted their price objective on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.50.

Textron Price Performance

TXT stock opened at $87.23 on Friday. The stock’s 50 day moving average is $88.54 and its two-hundred day moving average is $89.28. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The company has a market capitalization of $16.34 billion, a PE ratio of 18.64, a P/E/G ratio of 1.45 and a beta of 1.23. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. Analysts predict that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.02 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.71%.

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.