Nomura Holdings Inc. Acquires New Position in Textron Inc. (NYSE:TXT)

Nomura Holdings Inc. acquired a new stake in Textron Inc. (NYSE:TXT) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,944 shares of the aerospace company’s stock, valued at approximately $317,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TXT. Adage Capital Partners GP L.L.C. raised its stake in Textron by 93.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock valued at $115,193,000 after acquiring an additional 713,169 shares during the period. JPMorgan Chase & Co. raised its stake in Textron by 11.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock valued at $448,923,000 after acquiring an additional 596,214 shares during the period. LSV Asset Management raised its stake in Textron by 15.9% in the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock valued at $305,037,000 after acquiring an additional 521,276 shares during the period. International Assets Investment Management LLC purchased a new position in Textron during the 4th quarter valued at about $394,347,000. Finally, Primecap Management Co. CA grew its holdings in Textron by 9.7% during the 3rd quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company’s stock valued at $421,503,000 after buying an additional 477,720 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TXT shares. Citigroup lifted their target price on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. The Goldman Sachs Group lifted their target price on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $105.00 in a report on Friday, March 8th. Finally, Susquehanna reduced their target price on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.29.

Textron Stock Up 0.6 %

Shares of NYSE TXT opened at $86.74 on Friday. Textron Inc. has a 12 month low of $64.42 and a 12 month high of $97.33. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $16.54 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 1.37 and a beta of 1.28. The business has a 50-day moving average of $87.93 and a 200-day moving average of $86.68.

Textron (NYSE:TXT) last issued its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.08). The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Textron had a return on equity of 16.30% and a net margin of 6.75%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. Sell-side analysts expect that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s dividend payout ratio is currently 1.71%.

Insiders Place Their Bets

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the sale, the director now owns 3,756 shares of the company’s stock, valued at $330,189.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is owned by insiders.

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.