Hilltop Holdings Inc. Boosts Stake in Textron Inc. (NYSE:TXT)

Hilltop Holdings Inc. boosted its stake in shares of Textron Inc. (NYSE:TXT) by 20.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,189 shares of the aerospace company’s stock after purchasing an additional 1,042 shares during the period. Hilltop Holdings Inc.’s holdings in Textron were worth $548,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in shares of Textron by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after buying an additional 160,923 shares in the last quarter. Brandes Investment Partners LP lifted its holdings in Textron by 20.0% during 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 purchasing an additional 258,778 shares in the last quarter. AQR Capital Management LLC boosted its position 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 worth $124,608,000 after purchasing an additional 231,173 shares during the period. Bank of New York Mellon Corp raised its position in shares of Textron by 0.4% during the 2nd 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 purchasing an additional 6,175 shares during the period. Finally, TD Asset Management Inc lifted its stake in shares of Textron by 3.2% during the 2nd quarter. TD Asset Management Inc now owns 1,087,342 shares of the aerospace company’s stock valued at $93,359,000 after buying an additional 33,394 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

TXT has been the subject of a number of analyst reports. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and cut their price target for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. UBS Group decreased 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. Robert W. Baird dropped their price target on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective 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, StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Textron currently has an average rating of “Moderate Buy” and an average target price of $101.56.

Textron Price Performance

Textron stock opened at $83.11 on Friday. Textron Inc. has a 52-week low of $75.70 and a 52-week high of $97.33. The company has a market cap of $15.42 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.54 and a beta of 1.25. The firm’s fifty day moving average is $85.66 and its 200 day moving average is $87.06. 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 (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). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the business posted $1.49 EPS. The company’s revenue was up 2.5% on a year-over-year basis. Sell-side analysts forecast that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Friday, December 13th. Textron’s payout ratio is 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.