Truvestments Capital LLC Invests $43,000 in Textron Inc. (NYSE:TXT)

Truvestments Capital LLC purchased a new position in Textron Inc. (NYSE:TXT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 482 shares of the aerospace company’s stock, valued at approximately $43,000.

Several other institutional investors have also recently made changes to their positions in TXT. Boston Partners increased its stake in Textron by 1.4% in the first quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock valued at $682,475,000 after acquiring an additional 99,868 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Textron by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after acquiring an additional 160,923 shares during the last quarter. Brandes Investment Partners LP increased its stake in Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after acquiring an additional 258,778 shares during the last quarter. AQR Capital Management LLC increased its stake in Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after acquiring an additional 231,173 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Textron by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company’s stock valued at $120,099,000 after acquiring an additional 6,175 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. UBS Group reduced their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research report on Thursday, August 8th. TD Cowen lowered shares of 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 research report on Wednesday, September 25th. Finally, StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Stock Performance

Textron stock opened at $85.10 on Thursday. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $85.90 and a 200-day moving average of $87.17. The firm has a market cap of $15.79 billion, a P/E ratio of 18.70, a P/E/G 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.

Textron (NYSE:TXT) last posted its earnings results 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). The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 earnings per share. Sell-side analysts expect that Textron Inc. will post 5.53 EPS for the current year.

Textron Announces Dividend

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 dividend of $0.02 per share. The ex-dividend date is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio is currently 1.76%.

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.