Blackhawk Capital Partners LLC. Buys New Shares in Textron Inc. (NYSE:TXT)

Blackhawk Capital Partners LLC. purchased 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 and Exchange Commission (SEC). The firm purchased 2,300 shares of the aerospace company’s stock, valued at approximately $204,000.

Other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in Textron during the second quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Textron in the second quarter valued at approximately $30,000. Oakworth Capital Inc. bought a new position in shares of Textron in the second quarter valued at approximately $31,000. Family Firm Inc. bought a new position in shares of Textron in the second quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Textron in the third quarter valued at approximately $42,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TXT has been the subject of a number of research analyst reports. Robert W. Baird cut their target price 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. UBS Group dropped their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. dropped their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. One 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. According to data from MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Stock Performance

Shares of Textron stock opened at $81.86 on Thursday. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The stock has a market capitalization of $15.19 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.46 and a beta of 1.24. 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 firm has a fifty day moving average of $86.13 and a two-hundred day moving average of $87.25.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the firm earned $1.49 EPS. Textron’s quarterly 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 year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio (DPR) is 1.76%.

About Textron

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.