Textron Inc. (NYSE:TXT) Shares Bought by Vinva Investment Management Ltd

Vinva Investment Management Ltd lifted its position in shares of Textron Inc. (NYSE:TXT) by 1,757.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,446 shares of the aerospace company’s stock after acquiring an additional 68,546 shares during the quarter. Vinva Investment Management Ltd’s holdings in Textron were worth $6,357,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TXT. Empirical Finance LLC increased its position in Textron by 1.7% during the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock worth $624,000 after purchasing an additional 115 shares during the period. Davis Investment Partners LLC lifted its holdings in Textron by 0.8% in the third quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock valued at $1,290,000 after acquiring an additional 118 shares during the period. Apollon Wealth Management LLC lifted its holdings in Textron by 4.9% in the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after acquiring an additional 125 shares during the period. Altman Advisors Inc. boosted its position in shares of Textron by 0.6% during the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock worth $1,894,000 after purchasing an additional 129 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Textron by 0.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock valued at $1,558,000 after purchasing an additional 146 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Down 0.1 %

Shares of NYSE TXT opened at $85.08 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $15.78 billion, a PE ratio of 18.70, a P/E/G ratio of 1.54 and a beta of 1.24. The firm has a fifty day moving average of $85.90 and a 200-day moving average of $87.17. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 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 firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the company earned $1.49 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, analysts anticipate that Textron Inc. will post 5.53 EPS for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TXT shares. Robert W. Baird decreased their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a report on Thursday, August 8th. UBS Group decreased their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. Finally, TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and cut their price target for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

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.