Textron Inc. (NYSE:TXT) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its holdings in Textron Inc. (NYSE:TXT) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,808,600 shares of the aerospace company’s stock after acquiring an additional 160,923 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.50% of Textron worth $241,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Innealta Capital LLC purchased a new position in shares of Textron in the 2nd quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Textron in the 2nd quarter valued at $30,000. Oakworth Capital Inc. acquired a new position in Textron in the 2nd quarter valued at $31,000. Family Firm Inc. purchased a new position in Textron during the 2nd quarter worth $40,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Textron by 200.0% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 338 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

TXT has been the topic of a number of recent analyst reports. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research note on Thursday, August 8th. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. UBS Group upped their price objective on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a report on Friday, July 19th. Bank of America raised their target price on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Citigroup upped their price target on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

Textron Stock Down 1.4 %

Textron stock opened at $87.49 on Thursday. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The firm has a market capitalization of $16.39 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23. The stock’s fifty day moving average is $88.78 and its two-hundred day moving average is $89.34. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 EPS. Analysts predict that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s payout ratio is 1.71%.

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.