Textron Inc. (NYSE:TXT) Shares Acquired by AGF Management Ltd.

AGF Management Ltd. increased its holdings in shares of Textron Inc. (NYSE:TXT) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,850 shares of the aerospace company’s stock after purchasing an additional 678 shares during the period. AGF Management Ltd.’s holdings in Textron were worth $2,305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in TXT. Principal Securities Inc. acquired a new stake in shares of Textron in the fourth quarter valued at about $78,000. Envestnet Portfolio Solutions Inc. grew its position in Textron by 11.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,677 shares of the aerospace company’s stock valued at $296,000 after acquiring an additional 384 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in Textron in the fourth quarter valued at approximately $201,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Textron by 4.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,645 shares of the aerospace company’s stock valued at $15,672,000 after purchasing an additional 9,389 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in shares of Textron by 21.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 27,338 shares of the aerospace company’s stock worth $2,199,000 after purchasing an additional 4,789 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TXT shares. Citigroup lifted their price target on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. TD Cowen lifted their target price on Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Bank of America increased their price target on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a report on Thursday, August 8th. Finally, UBS Group increased their price target on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned 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 target price of $102.50.

Textron Stock Up 0.9 %

Shares of Textron stock opened at $87.70 on Friday. The company has a market capitalization of $16.43 billion, a P/E ratio of 18.74, a PEG ratio of 1.37 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33. The business’s fifty day moving average price is $88.66 and its two-hundred day moving average price is $89.32.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the firm earned $1.46 EPS. Textron’s revenue was up 3.0% on a year-over-year basis. As a group, research analysts forecast that Textron Inc. will post 6.27 EPS for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s payout ratio is currently 1.71%.

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.