Textron Inc. (NYSE:TXT) Shares Bought by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of Textron Inc. (NYSE:TXT) by 32.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,652 shares of the aerospace company’s stock after purchasing an additional 3,814 shares during the quarter. Empowered Funds LLC’s holdings in Textron were worth $1,386,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of Textron during the second quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Textron during the 2nd quarter worth approximately $30,000. Oakworth Capital Inc. purchased a new position in shares of Textron during the 2nd quarter worth approximately $31,000. Family Firm Inc. acquired a new stake in shares of Textron in the 2nd quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new position in Textron during the third quarter worth $42,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Up 2.6 %

Shares of NYSE:TXT opened at $83.96 on Friday. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm has a market cap of $15.58 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.46 and a beta of 1.24. The company has a fifty day simple moving average of $86.07 and a 200 day simple moving average of $87.22.

Textron (NYSE:TXT) last announced 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). Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the business earned $1.49 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Announces Dividend

The business 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 $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s payout ratio is 1.76%.

Analyst Upgrades and Downgrades

TXT has been the topic of several research analyst reports. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a report on Thursday, August 8th. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and decreased their price target for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, Robert W. Baird dropped their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.56.

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.