Massachusetts Financial Services Co. MA Has $7.08 Million Stock Holdings in Textron Inc. (NYSE:TXT)

Massachusetts Financial Services Co. MA grew its stake in shares of Textron Inc. (NYSE:TXT) by 5.3% during the 3rd quarter, Holdings Channel reports. The firm owned 79,973 shares of the aerospace company’s stock after buying an additional 4,023 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Textron were worth $7,084,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Lazard Asset Management LLC grew its position in shares of Textron by 57.2% in the 1st quarter. Lazard Asset Management LLC now owns 695 shares of the aerospace company’s stock valued at $66,000 after acquiring an additional 253 shares during the period. Bayesian Capital Management LP bought a new position in Textron during the first quarter worth about $297,000. B. Riley Wealth Advisors Inc. increased its position in Textron by 17.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,402 shares of the aerospace company’s stock worth $422,000 after buying an additional 640 shares during the last quarter. California State Teachers Retirement System raised its stake 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 valued at $31,784,000 after buying an additional 3,767 shares during the period. Finally, Tidal Investments LLC lifted its position in shares of Textron by 57.0% in the first quarter. Tidal Investments LLC now owns 10,868 shares of the aerospace company’s stock valued at $1,043,000 after buying an additional 3,946 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Robert W. Baird dropped their price target on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and cut their target price for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. UBS Group decreased their price target on shares of 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 downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.56.

Textron Stock Performance

NYSE:TXT opened at $85.13 on Wednesday. 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 fifty-two week low of $74.13 and a fifty-two week high of $97.33. The company has a market cap of $15.79 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.54 and a beta of 1.24. The stock has a fifty day moving average price of $85.97 and a 200-day moving average price of $87.19.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.49 earnings per share. As a group, equities analysts anticipate that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio is presently 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.