Textron Inc. (NYSE:TXT) Shares Bought by Investment Management Corp of Ontario

Investment Management Corp of Ontario lifted its stake in Textron Inc. (NYSE:TXT) by 6.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,250 shares of the aerospace company’s stock after purchasing an additional 2,100 shares during the quarter. Investment Management Corp of Ontario’s holdings in Textron were worth $2,945,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Textron by 6.1% during 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 boosted its stake in shares of Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after purchasing an additional 258,778 shares during the period. AQR Capital Management LLC boosted its position in Textron by 18.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock valued at $124,608,000 after buying an additional 231,173 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Textron by 0.4% in 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. Finally, TD Asset Management Inc boosted its stake in shares of Textron by 3.2% in the 2nd quarter. TD Asset Management Inc now owns 1,087,342 shares of the aerospace company’s stock valued at $93,359,000 after buying an additional 33,394 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Price Performance

Shares of NYSE:TXT opened at $85.18 on Wednesday. Textron Inc. has a one year low of $75.70 and a one year high of $97.33. The stock has a market capitalization of $15.80 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 1.54 and a beta of 1.25. The company has a 50-day simple moving average of $85.70 and a 200-day simple moving average of $87.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83.

Textron (NYSE:TXT) last posted its quarterly earnings data 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 net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the company earned $1.49 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. On average, analysts predict that Textron Inc. will post 5.53 EPS for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s dividend payout ratio is presently 1.76%.

Analyst Ratings Changes

Several research analysts have commented on TXT shares. UBS Group lowered their price target 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. TD Cowen downgraded 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 report on Wednesday, September 25th. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research report on Thursday, August 8th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, Robert W. Baird reduced their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and a consensus price target of $101.56.

Textron 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.