Brooklyn Investment Group Buys Shares of 1,579 Textron Inc. (NYSE:TXT)

Brooklyn Investment Group acquired a new position in Textron Inc. (NYSE:TXT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,579 shares of the aerospace company’s stock, valued at approximately $140,000.

Other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC boosted its holdings in Textron by 57.2% in the first quarter. Lazard Asset Management LLC now owns 695 shares of the aerospace company’s stock worth $66,000 after acquiring an additional 253 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Textron in the first quarter worth about $297,000. B. Riley Wealth Advisors Inc. boosted its holdings in Textron by 17.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,402 shares of the aerospace company’s stock worth $422,000 after acquiring an additional 640 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Textron by 1.2% in the first quarter. California State Teachers Retirement System now owns 331,325 shares of the aerospace company’s stock worth $31,784,000 after acquiring an additional 3,767 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in Textron by 57.0% in the first quarter. Tidal Investments LLC now owns 10,868 shares of the aerospace company’s stock worth $1,043,000 after acquiring an additional 3,946 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Down 0.0 %

Shares of TXT opened at $85.10 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. Textron Inc. has a one year low of $74.13 and a one year high of $97.33. The stock has a market capitalization of $15.79 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.54 and a beta of 1.24. The stock has a 50 day moving average price of $85.90 and a 200 day moving average price of $87.17.

Textron (NYSE:TXT) last issued 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). The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.49 earnings per share. Equities research analysts forecast that Textron Inc. will post 5.53 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $0.02 dividend. 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 payout ratio is currently 1.76%.

Wall Street Analyst Weigh In

TXT has been the subject of several recent analyst reports. UBS Group lowered their price target on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and lowered their price target for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a report on Thursday, August 8th. 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 report on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their target price on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

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.