Eastern Bank Acquires Shares of 544 Textron Inc. (NYSE:TXT)

Eastern Bank bought a new position in shares of Textron Inc. (NYSE:TXT) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 544 shares of the aerospace company’s stock, valued at approximately $42,000.

Several other hedge funds and other institutional investors have also modified their holdings of TXT. Brandes Investment Partners LP lifted its position 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 acquiring an additional 258,778 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Textron by 18.9% during the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after purchasing an additional 231,173 shares during the period. Distillate Capital Partners LLC lifted its holdings in Textron by 101,299.4% during the 2nd 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. Dimensional Fund Advisors LP boosted its stake in Textron by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after purchasing an additional 160,923 shares during the period. Finally, Susquehanna Fundamental Investments LLC grew its holdings in Textron by 1,839.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 162,955 shares of the aerospace company’s stock valued at $13,991,000 after buying an additional 154,555 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TXT. Barclays dropped their target price on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. JPMorgan Chase & Co. cut their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Robert W. Baird decreased their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. UBS Group dropped their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. Finally, TD Cowen raised Textron to a “hold” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and an average price target of $98.64.

Textron Trading Up 0.7 %

Shares of TXT opened at $78.62 on Thursday. 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 52-week low of $74.89 and a 52-week high of $97.33. The firm has a market cap of $14.58 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.46 and a beta of 1.27. The business’s fifty day moving average is $81.20 and its 200-day moving average is $85.28.

Textron (NYSE:TXT) last released its earnings results 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 business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.49 EPS. Equities analysts anticipate that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were given a $0.02 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron’s dividend payout ratio is currently 1.76%.

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.