482 Shares in Textron Inc. (NYSE:TXT) Purchased by Truvestments Capital LLC

Truvestments Capital LLC purchased a new position in Textron Inc. (NYSE:TXT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 482 shares of the aerospace company’s stock, valued at approximately $43,000.

A number of other institutional investors also recently bought and sold shares of TXT. DRW Securities LLC bought a new position in shares of Textron during the third quarter valued at approximately $523,000. Independent Advisor Alliance increased its stake in shares of Textron by 4.2% during the third quarter. Independent Advisor Alliance now owns 33,000 shares of the aerospace company’s stock valued at $2,923,000 after purchasing an additional 1,339 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Textron by 57.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 16,094 shares of the aerospace company’s stock valued at $1,426,000 after purchasing an additional 5,880 shares in the last quarter. Prosperity Financial Group Inc. increased its stake in shares of Textron by 7.9% during the third quarter. Prosperity Financial Group Inc. now owns 4,582 shares of the aerospace company’s stock valued at $406,000 after purchasing an additional 335 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Textron by 11.4% during the third quarter. Daiwa Securities Group Inc. now owns 23,131 shares of the aerospace company’s stock valued at $2,049,000 after purchasing an additional 2,375 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TXT shares. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and decreased their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research report on Thursday, August 8th. Robert W. Baird reduced their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target 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, StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Trading Down 0.0 %

Shares of TXT stock opened at $85.10 on Thursday. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $85.90 and its 200 day moving average is $87.17. The stock has a market capitalization of $15.79 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.54 and a beta of 1.24.

Textron (NYSE:TXT) last issued its 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 return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the business posted $1.49 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Research analysts expect that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Announces Dividend

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