Symmetry Investments LP Purchases Shares of 4,488 Textron Inc. (NYSE:TXT)

Symmetry Investments LP purchased a new position in shares of Textron Inc. (NYSE:TXT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,488 shares of the aerospace company’s stock, valued at approximately $385,000.

Several other institutional investors also recently modified their holdings of the business. Altman Advisors Inc. increased its position in Textron by 0.6% during the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock valued at $1,894,000 after purchasing an additional 129 shares during the period. True Vision MN LLC increased its position in shares of Textron by 2.5% during the first quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock worth $513,000 after buying an additional 133 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Textron by 0.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock worth $1,558,000 after buying an additional 146 shares during the last quarter. Czech National Bank lifted its holdings in Textron by 0.5% in the first quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock valued at $3,308,000 after buying an additional 157 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Textron by 4.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock valued at $353,000 after buying an additional 175 shares during the period. Institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Shares of TXT opened at $87.91 on Friday. The business’s fifty day moving average is $88.80 and its 200 day moving average is $89.32. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. The stock has a market cap of $16.76 billion, a P/E ratio of 18.78, a P/E/G ratio of 1.40 and a beta of 1.23.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share 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 analyst estimates of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $1.46 earnings per share. Sell-side analysts anticipate that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on TXT shares. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. UBS Group lifted their target price on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a report on Friday, July 19th. Citigroup boosted their price target on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. 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. Finally, Bank of America lifted their price objective on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.50.

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.