Textron Inc. (NYSE:TXT) Holdings Lifted by Redwood Investment Management LLC

Redwood Investment Management LLC raised its position in Textron Inc. (NYSE:TXT) by 4.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,680 shares of the aerospace company’s stock after purchasing an additional 655 shares during the quarter. Redwood Investment Management LLC’s holdings in Textron were worth $1,464,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TXT. Wedge Capital Management L L P NC acquired a new position in shares of Textron during the 2nd quarter worth about $64,319,000. Brandes Investment Partners LP raised its holdings in Textron by 20.0% in the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after acquiring an additional 258,778 shares in the last quarter. AQR Capital Management LLC raised its holdings in Textron by 18.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after acquiring an additional 231,173 shares in the last quarter. Fidelity National Financial Inc. acquired a new position in Textron in the 2nd quarter valued at approximately $19,748,000. Finally, Distillate Capital Partners LLC raised its holdings in Textron by 101,299.4% in the 2nd quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company’s stock valued at $14,278,000 after acquiring an additional 166,131 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

TXT has been the subject of several recent research reports. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered 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. UBS Group lowered their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, TD Cowen lowered Textron from a “buy” rating to a “hold” rating and lowered their price objective for the company 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Trading Down 2.3 %

TXT opened at $83.11 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. Textron Inc. has a fifty-two week low of $75.70 and a fifty-two week high of $97.33. The firm has a market capitalization of $15.42 billion, a PE ratio of 18.27, a P/E/G ratio of 1.54 and a beta of 1.25. The company’s 50-day moving average is $85.66 and its 200 day moving average is $87.06.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the company earned $1.49 EPS. The company’s revenue was up 2.5% on a year-over-year basis. As a group, research analysts predict that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date is Friday, December 13th. 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.