Daiwa Securities Group Inc. Grows Stake in Textron Inc. (NYSE:TXT)

Daiwa Securities Group Inc. boosted its position in shares of Textron Inc. (NYSE:TXT) by 11.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,131 shares of the aerospace company’s stock after purchasing an additional 2,375 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Textron were worth $2,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in Textron during the 2nd quarter worth $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Textron during the 2nd quarter worth $30,000. Oakworth Capital Inc. purchased a new position in Textron during the 2nd quarter worth $31,000. Family Firm Inc. purchased a new position in Textron during the 2nd quarter worth $40,000. Finally, Capital Performance Advisors LLP purchased a new position in Textron during the 3rd quarter worth $42,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Down 0.1 %

Textron stock opened at $85.08 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The stock has a market capitalization of $15.78 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.54 and a beta of 1.24. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33. The business has a fifty day moving average price of $85.85 and a 200-day moving average price of $87.16.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share 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 analyst estimates of $3.50 billion. During the same period in the previous year, the business earned $1.49 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio is currently 1.76%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TXT. UBS Group cut their price target on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and cut their price target for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut their price target on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and a consensus price target 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.