Daiwa Securities Group Inc. Increases Stock Holdings in Textron Inc. (NYSE:TXT)

Daiwa Securities Group Inc. increased its holdings in shares of Textron Inc. (NYSE:TXT) by 7.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 20,756 shares of the aerospace company’s stock after acquiring an additional 1,517 shares during the period. Daiwa Securities Group Inc.’s holdings in Textron were worth $1,782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TXT. Innealta Capital LLC purchased a new position in shares of Textron during the 2nd quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Textron during the 2nd quarter valued at approximately $30,000. Oakworth Capital Inc. purchased a new position in shares of Textron during the 2nd quarter valued at approximately $31,000. Family Firm Inc. purchased a new position in shares of Textron during the 2nd quarter valued at approximately $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 buying an additional 338 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Up 0.9 %

Shares of TXT opened at $87.70 on Friday. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The company has a market capitalization of $16.43 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23. The stock has a fifty day simple moving average of $88.66 and a two-hundred day simple moving average of $89.33. 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 issued its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the company earned $1.46 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that Textron Inc. will post 6.27 EPS for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s payout ratio is 1.71%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. 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 report on Thursday, August 8th. Citigroup raised their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday. TD Cowen raised their price objective on Textron from $100.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, UBS Group raised their price objective on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $102.50.

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.