9,347 Shares in Textron Inc. (NYSE:TXT) Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. purchased a new position in shares of Textron Inc. (NYSE:TXT) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 9,347 shares of the aerospace company’s stock, valued at approximately $828,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Textron by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after acquiring an additional 160,923 shares during the last quarter. Brandes Investment Partners LP lifted its stake in Textron by 20.0% in the 2nd 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 last quarter. AQR Capital Management LLC grew its holdings in Textron by 18.9% during the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after purchasing an additional 231,173 shares during the period. Bank of New York Mellon Corp increased its position in Textron by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company’s stock worth $120,099,000 after buying an additional 6,175 shares during the last quarter. Finally, TD Asset Management Inc increased its position in Textron by 3.2% during the second quarter. TD Asset Management Inc now owns 1,087,342 shares of the aerospace company’s stock worth $93,359,000 after buying an additional 33,394 shares during the last quarter. 86.03% of the stock is owned by institutional investors.

Textron Trading Down 0.3 %

Shares of TXT opened at $82.43 on Tuesday. Textron Inc. has a 52-week low of $75.81 and a 52-week high of $97.33. 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 business’s fifty day moving average is $85.37 and its 200-day moving average is $86.92. The firm has a market cap of $15.29 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.49 and a beta of 1.25.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the company earned $1.49 earnings per share. Textron’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts anticipate that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron’s dividend payout ratio is currently 1.76%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and decreased their target price for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. decreased their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. UBS Group cut their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. Robert W. Baird lowered their target price on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. One 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.