International Assets Investment Management LLC Buys New Position in Textron Inc. (NYSE:TXT)

International Assets Investment Management LLC purchased a new position in Textron Inc. (NYSE:TXT) during the 4th quarter, Holdings Channel reports. The fund purchased 150,647 shares of the aerospace company’s stock, valued at approximately $11,523,000. Textron comprises 0.5% of International Assets Investment Management LLC’s holdings, making the stock its 26th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of TXT. Dimensional Fund Advisors LP raised its holdings in Textron by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after purchasing an additional 160,923 shares during the period. Brandes Investment Partners LP increased its position 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 worth $133,096,000 after buying an additional 258,778 shares in the last quarter. AQR Capital Management LLC raised its stake 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 buying an additional 231,173 shares during the period. Hsbc Holdings PLC lifted its position in shares of Textron by 3.9% during the 2nd quarter. Hsbc Holdings PLC now owns 626,323 shares of the aerospace company’s stock valued at $53,830,000 after buying an additional 23,404 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Textron by 13.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock worth $43,884,000 after purchasing an additional 57,967 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on TXT. UBS Group reduced their price target 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. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. TD Cowen upgraded Textron to a “hold” rating in a report on Thursday, December 19th. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Monday. Finally, Robert W. Baird cut their price objective 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $98.64.

Textron Stock Down 0.7 %

Shares of NYSE:TXT traded down $0.55 during trading hours on Wednesday, hitting $75.05. The company’s stock had a trading volume of 81,781 shares, compared to its average volume of 1,100,211. The company has a market capitalization of $13.92 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 1.46 and a beta of 1.27. Textron Inc. has a 52 week low of $74.89 and a 52 week high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The firm’s fifty day moving average price is $81.73 and its 200 day moving average price is $85.63.

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 the consensus estimate of $3.50 billion. During the same period in the previous year, the firm posted $1.49 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. As a group, research analysts expect that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Friday, December 13th. Textron’s dividend payout ratio is currently 1.76%.

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.