The Manufacturers Life Insurance Company Acquires 5,913 Shares of Textron Inc. (NYSE:TXT)

The Manufacturers Life Insurance Company increased its holdings in shares of Textron Inc. (NYSE:TXT) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 122,505 shares of the aerospace company’s stock after acquiring an additional 5,913 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Textron worth $10,518,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of TXT. Innealta Capital LLC bought a new position in shares of Textron during the second quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Textron during the 2nd quarter worth $30,000. Oakworth Capital Inc. acquired a new position in Textron in the 2nd quarter valued at $31,000. Family Firm Inc. bought a new stake in shares of Textron during the 2nd quarter valued at $40,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Textron by 200.0% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 338 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Performance

Shares of Textron stock opened at $86.11 on Friday. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 1.39 and a beta of 1.23. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33. The company’s fifty day moving average is $88.04 and its 200 day moving average is $89.05. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47.

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

Textron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid 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 was Friday, September 13th. Textron’s dividend payout ratio is presently 1.71%.

Analyst Ratings Changes

A number of research analysts recently commented on TXT shares. Bank of America boosted their price target on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and cut their price target for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. Citigroup upped their target price on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, UBS Group lifted their price target on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Textron presently has a consensus rating of “Hold” and an average price target of $101.50.

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.