Franklin Resources Inc. Acquires 15,294 Shares of Textron Inc. (NYSE:TXT)

Franklin Resources Inc. grew its holdings in shares of Textron Inc. (NYSE:TXT) by 10.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 164,029 shares of the aerospace company’s stock after acquiring an additional 15,294 shares during the period. Franklin Resources Inc. owned about 0.09% of Textron worth $14,505,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Innealta Capital LLC bought a new position in Textron during the 2nd quarter worth $25,000. True Wealth Design LLC acquired a new stake in shares of Textron in the third quarter valued at about $26,000. Family Firm Inc. bought a new position in shares of Textron during the second quarter worth about $40,000. Capital Performance Advisors LLP acquired a new position in shares of Textron in the third quarter worth approximately $42,000. Finally, Truvestments Capital LLC bought a new stake in Textron in the third quarter valued at approximately $43,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TXT shares. UBS Group lowered their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Thursday. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. dropped their price objective on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, Robert W. Baird decreased their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Textron currently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Textron Stock Performance

Shares of Textron stock opened at $76.85 on Friday. The business has a 50-day simple moving average of $84.34 and a 200 day simple moving average of $86.51. Textron Inc. has a one year low of $75.36 and a one year high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The firm has a market capitalization of $14.26 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 1.46 and a beta of 1.25.

Textron (NYSE:TXT) last released its quarterly earnings data 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 net margin of 6.30% and a return on equity of 16.02%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the firm earned $1.49 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. On average, research analysts anticipate that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Announces Dividend

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

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.