Dynamic Technology Lab Private Ltd Buys 5,880 Shares of Textron Inc. (NYSE:TXT)

Dynamic Technology Lab Private Ltd boosted its position in Textron Inc. (NYSE:TXT) by 57.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,094 shares of the aerospace company’s stock after buying an additional 5,880 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Textron were worth $1,426,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC raised its holdings in Textron by 57.2% during the first quarter. Lazard Asset Management LLC now owns 695 shares of the aerospace company’s stock worth $66,000 after buying an additional 253 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Textron in the 1st quarter worth about $297,000. B. Riley Wealth Advisors Inc. lifted its position in Textron by 17.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,402 shares of the aerospace company’s stock valued at $422,000 after acquiring an additional 640 shares in the last quarter. California State Teachers Retirement System boosted its stake in Textron by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 331,325 shares of the aerospace company’s stock valued at $31,784,000 after purchasing an additional 3,767 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Textron by 57.0% during the 1st quarter. Tidal Investments LLC now owns 10,868 shares of the aerospace company’s stock valued at $1,043,000 after purchasing an additional 3,946 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Down 0.7 %

Textron stock opened at $85.13 on Wednesday. The firm has a 50 day moving average price of $85.97 and a 200-day moving average price of $87.19. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33. The company has a market capitalization of $15.79 billion, a P/E ratio of 18.71, a P/E/G ratio of 1.54 and a beta of 1.24.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share 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 the consensus estimate of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. Textron’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company posted $1.49 earnings per share. As a group, equities analysts predict that Textron Inc. will post 5.53 EPS for the current year.

Textron Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently weighed in on TXT. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and dropped their target price for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, Robert W. Baird reduced their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. 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. According to MarketBeat, Textron has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

About Textron

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.