Textron Inc. (NYSE:TXT) Shares Bought by Vinva Investment Management Ltd

Vinva Investment Management Ltd boosted its holdings in Textron Inc. (NYSE:TXT) by 1,757.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,446 shares of the aerospace company’s stock after acquiring an additional 68,546 shares during the period. Vinva Investment Management Ltd’s holdings in Textron were worth $6,357,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TXT. Public Sector Pension Investment Board boosted its holdings in Textron by 8.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 7,694 shares of the aerospace company’s stock valued at $682,000 after acquiring an additional 600 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Textron by 14.7% during the third quarter. BNP Paribas Financial Markets now owns 398,366 shares of the aerospace company’s stock worth $35,287,000 after purchasing an additional 50,936 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Textron in the third quarter valued at approximately $140,000. Quantbot Technologies LP purchased a new position in shares of Textron in the third quarter valued at approximately $2,221,000. Finally, Bank of Montreal Can grew its holdings in shares of Textron by 0.4% in the third quarter. Bank of Montreal Can now owns 190,615 shares of the aerospace company’s stock valued at $16,726,000 after purchasing an additional 772 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

Shares of TXT stock opened at $85.08 on Thursday. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The firm has a market cap of $15.78 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.54 and a beta of 1.24. The stock’s 50-day moving average is $85.90 and its two-hundred day moving average is $87.17.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate 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 period last year, the firm earned $1.49 EPS. Analysts predict that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) is 1.76%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TXT. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Robert W. Baird lowered their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 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. UBS Group lowered their price objective on 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 cut shares of Textron from a “buy” rating to a “hold” rating and reduced their target price for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.56.

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.