Public Sector Pension Investment Board Raises Position in Textron Inc. (NYSE:TXT)

Public Sector Pension Investment Board grew its position in shares of Textron Inc. (NYSE:TXT) by 58.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,094 shares of the aerospace company’s stock after buying an additional 2,629 shares during the quarter. Public Sector Pension Investment Board’s holdings in Textron were worth $609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TXT. Wedge Capital Management L L P NC bought a new position in Textron in the 2nd quarter valued at approximately $64,319,000. Ferguson Wellman Capital Management Inc. bought a new stake in Textron in the 1st quarter worth about $45,932,000. Canada Pension Plan Investment Board increased its holdings in Textron by 1,611.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock worth $41,547,000 after buying an additional 407,800 shares in the last quarter. LSV Asset Management raised its position in Textron by 6.9% in the 1st quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after buying an additional 260,003 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Textron by 206.7% during the 1st quarter. BNP Paribas Financial Markets now owns 352,868 shares of the aerospace company’s stock valued at $33,851,000 after acquiring an additional 237,817 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TXT shares. UBS Group boosted their price objective on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. Citigroup increased their price target on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. TD Cowen cut Textron from a “buy” rating to a “hold” rating and reduced their price objective for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. Finally, Bank of America increased their target price on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Textron presently has a consensus rating of “Hold” and an average target price of $101.50.

Textron Price Performance

Shares of Textron stock opened at $86.98 on Thursday. The stock has a market cap of $16.30 billion, a P/E ratio of 18.59, a P/E/G ratio of 1.39 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The stock’s fifty day moving average is $88.04 and its 200 day moving average is $89.05. Textron Inc. has a one year low of $74.13 and a one year high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.48 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 earnings per share. Sell-side analysts anticipate that Textron Inc. will post 6.18 earnings per share for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $0.02 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.71%.

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.