KBC Group NV Purchases New Position in Textron Inc. (NYSE:TXT)

KBC Group NV acquired a new stake in shares of Textron Inc. (NYSE:TXT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,285 shares of the aerospace company’s stock, valued at approximately $1,797,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Textron by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 471,039 shares of the aerospace company’s stock worth $41,725,000 after buying an additional 4,327 shares during the last quarter. GSA Capital Partners LLP boosted its position in Textron by 144.3% during the third quarter. GSA Capital Partners LLP now owns 13,862 shares of the aerospace company’s stock worth $1,228,000 after purchasing an additional 8,188 shares during the period. Apollon Wealth Management LLC grew its holdings in Textron by 4.9% during the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after purchasing an additional 125 shares during the last quarter. Versor Investments LP bought a new position in shares of Textron in the third quarter valued at approximately $655,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after buying an additional 232 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TXT shares. Robert W. Baird reduced their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Bank of America boosted their price objective on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. TD Cowen cut Textron from a “buy” rating to a “hold” rating and reduced their target price for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Citigroup boosted their price target on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, UBS Group reduced their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. One investment 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Stock Performance

NYSE:TXT opened at $83.34 on Tuesday. The stock has a market capitalization of $15.46 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 1.53 and a beta of 1.24. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The firm has a 50 day moving average of $86.32 and a 200-day moving average of $87.31.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). The business had revenue of $3.43 billion during 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%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.49 EPS. As a group, sell-side analysts anticipate that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Dividend Announcement

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