Blue Trust Inc. Buys 810 Shares of Textron Inc. (NYSE:TXT)

Blue Trust Inc. boosted its holdings in shares of Textron Inc. (NYSE:TXT) by 73.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,915 shares of the aerospace company’s stock after purchasing an additional 810 shares during the period. Blue Trust Inc.’s holdings in Textron were worth $164,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TXT. Innealta Capital LLC purchased a new position in Textron during the 2nd quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Textron during the 2nd quarter valued at about $30,000. Oakworth Capital Inc. purchased a new position in Textron during the 2nd quarter valued at about $31,000. Family Firm Inc. purchased a new position in Textron during the 2nd quarter valued at about $40,000. Finally, Truvestments Capital LLC purchased a new position in Textron during the 1st quarter valued at about $48,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Up 1.1 %

TXT stock opened at $82.35 on Friday. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. The firm has a market cap of $15.43 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. The business has a 50 day moving average of $87.70 and a 200 day moving average of $88.03.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.06). Textron had a net margin of 6.67% and a return on equity of 16.41%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period last year, the business earned $1.49 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. On average, research analysts forecast that Textron Inc. will post 6.1 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s dividend payout ratio is 1.69%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research report on Thursday, August 8th. Citigroup increased their target price on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Robert W. Baird decreased their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Bank of America increased their target price on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and an average 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.