Daiwa Securities Group Inc. Purchases 1,517 Shares of Textron Inc. (NYSE:TXT)

Daiwa Securities Group Inc. boosted its position in Textron Inc. (NYSE:TXT) by 7.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,756 shares of the aerospace company’s stock after purchasing an additional 1,517 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Textron were worth $1,782,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Boston Partners raised its holdings in Textron by 1.4% in the first quarter. Boston Partners now owns 7,116,231 shares of the aerospace company’s stock worth $682,475,000 after purchasing an additional 99,868 shares in the last quarter. LSV Asset Management increased its holdings in shares of Textron by 6.9% during the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock valued at $388,809,000 after acquiring an additional 260,003 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 valued at $120,099,000 after acquiring an additional 6,175 shares in the last quarter. Brandes Investment Partners LP increased its holdings in shares of Textron by 49.3% during the fourth quarter. Brandes Investment Partners LP now owns 1,235,966 shares of the aerospace company’s stock valued at $99,396,000 after acquiring an additional 408,290 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in shares of Textron by 3.2% during the second quarter. TD Asset Management Inc now owns 1,087,342 shares of the aerospace company’s stock valued at $93,359,000 after acquiring an additional 33,394 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Price Performance

Shares of NYSE:TXT opened at $87.70 on Friday. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33. The company’s 50 day moving average is $88.66 and its 200 day moving average is $89.33. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. The company has a market cap of $16.43 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the prior year, the firm posted $1.46 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts forecast that Textron Inc. will post 6.27 EPS for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.02 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio is presently 1.71%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a report on Thursday, August 8th. Bank of America upped their price objective on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday. TD Cowen upped their price objective on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Citigroup upped their price objective on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.50.

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.