Nomura Asset Management Co. Ltd. Increases Stock Holdings in Textron Inc. (NYSE:TXT)

Nomura Asset Management Co. Ltd. grew its stake in Textron Inc. (NYSE:TXT) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,845 shares of the aerospace company’s stock after purchasing an additional 871 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Textron were worth $4,947,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Innealta Capital LLC purchased a new stake in Textron in the second quarter worth about $25,000. True Wealth Design LLC purchased a new position in shares of Textron in the 3rd quarter valued at approximately $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Textron in the second quarter worth $30,000. Oakworth Capital Inc. bought a new position in Textron in the second quarter worth $31,000. Finally, Family Firm Inc. purchased a new position in Textron during the second quarter valued at $40,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Down 0.2 %

Textron stock opened at $80.91 on Friday. The stock has a market cap of $15.01 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.48 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The stock has a fifty day moving average of $84.94 and a 200 day moving average of $86.75. Textron Inc. has a one year low of $76.98 and a one year high of $97.33.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share 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 return on equity of 16.02% and a net margin of 6.30%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.49 earnings per share. As a group, sell-side analysts predict that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given 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

Several research analysts recently issued reports on the stock. TD Cowen lowered shares of 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. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. UBS Group dropped their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, Robert W. Baird cut their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.