Textron Inc. (NYSE:TXT) Shares Bought by Stifel Financial Corp

Stifel Financial Corp lifted its stake in shares of Textron Inc. (NYSE:TXT) by 4.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 148,776 shares of the aerospace company’s stock after purchasing an additional 6,822 shares during the quarter. Stifel Financial Corp’s holdings in Textron were worth $13,179,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TXT. Dimensional Fund Advisors LP boosted its stake in Textron by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after buying an additional 160,923 shares during the last quarter. Brandes Investment Partners LP boosted its position in shares of Textron by 20.0% during the 2nd 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 grew its holdings in shares of 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 purchasing an additional 231,173 shares during the period. Bank of New York Mellon Corp increased its position in Textron by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company’s stock worth $120,099,000 after purchasing an additional 6,175 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in Textron by 3.2% during the second quarter. TD Asset Management Inc now owns 1,087,342 shares of the aerospace company’s stock worth $93,359,000 after purchasing an additional 33,394 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Price Performance

Shares of TXT opened at $82.08 on Wednesday. The company has a market cap of $15.23 billion, a P/E ratio of 18.04, a PEG ratio of 1.49 and a beta of 1.25. Textron Inc. has a fifty-two week low of $75.81 and a fifty-two week high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average price is $85.26 and its 200 day moving average price is $86.87.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the business posted $1.49 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. On average, research analysts forecast that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid 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 0.10%. Textron’s payout ratio is 1.76%.

Analysts Set New Price Targets

Several research firms have recently commented on TXT. Robert W. Baird reduced their price target 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. JPMorgan Chase & Co. reduced their target price on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. UBS Group decreased their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Textron currently has a consensus rating of “Moderate Buy” and a consensus target price 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.