Benjamin Edwards Inc. Acquires Shares of 4,711 Textron Inc. (NYSE:TXT)

Benjamin Edwards Inc. bought a new position in shares of Textron Inc. (NYSE:TXT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,711 shares of the aerospace company’s stock, valued at approximately $417,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wedge Capital Management L L P NC bought a new stake in Textron during the 2nd quarter worth approximately $64,319,000. Brandes Investment Partners LP grew its holdings in Textron by 20.0% during the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after buying an additional 258,778 shares in the last quarter. AQR Capital Management LLC raised its position 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 buying an additional 231,173 shares during the last quarter. Fidelity National Financial Inc. bought a new position in Textron during the 2nd quarter valued at $19,748,000. Finally, Distillate Capital Partners LLC boosted its holdings in Textron by 101,299.4% during the second quarter. Distillate Capital Partners LLC now owns 166,295 shares of the aerospace company’s stock worth $14,278,000 after purchasing an additional 166,131 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Down 0.5 %

Shares of NYSE TXT opened at $82.66 on Monday. The stock has a market capitalization of $15.33 billion, a P/E ratio of 18.17, a PEG ratio of 1.49 and a beta of 1.25. Textron Inc. has a one year low of $75.70 and a one year high of $97.33. The firm’s 50 day simple moving average is $85.49 and its two-hundred day simple moving average is $86.96. 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 (NYSE:TXT) last issued its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS 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 analysts’ expectations of $3.50 billion. During the same quarter in the previous year, the business earned $1.49 EPS. Textron’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, analysts expect that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio is 1.76%.

Wall Street Analyst Weigh In

TXT has been the topic of several research analyst reports. 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 dropped their price objective for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. UBS Group reduced their target price on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Finally, Robert W. Baird cut their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and an average target price of $101.56.

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.