Neuberger Berman Group LLC Has $61.07 Million Stake in Textron Inc. (NYSE:TXT)

Neuberger Berman Group LLC raised its stake in shares of Textron Inc. (NYSE:TXTGet Rating) by 23.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 820,864 shares of the aerospace company’s stock after purchasing an additional 158,090 shares during the period. Neuberger Berman Group LLC owned 0.38% of Textron worth $61,068,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its position in shares of Textron by 10.6% during the first quarter. Advisors Asset Management Inc. now owns 8,729 shares of the aerospace company’s stock worth $649,000 after acquiring an additional 838 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in Textron by 12.2% during the 1st quarter. Alyeska Investment Group L.P. now owns 605,765 shares of the aerospace company’s stock worth $45,057,000 after purchasing an additional 65,772 shares during the last quarter. Royal Bank of Canada raised its holdings in Textron by 58.7% during the 1st quarter. Royal Bank of Canada now owns 345,098 shares of the aerospace company’s stock worth $25,668,000 after purchasing an additional 127,608 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of Textron by 67.8% in the 1st quarter. Salem Investment Counselors Inc. now owns 18,125 shares of the aerospace company’s stock valued at $1,348,000 after purchasing an additional 7,325 shares during the last quarter. Finally, Eudaimonia Partners LLC acquired a new stake in shares of Textron during the first quarter worth $209,000. Institutional investors own 87.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Cowen set a $86.00 price target on shares of Textron in a research report on Tuesday, July 19th. Sanford C. Bernstein began coverage on Textron in a research note on Tuesday, September 13th. They set a “market perform” rating for the company. Cfra boosted their price target on Textron to $73.00 in a research note on Tuesday, August 9th. Bank of America reduced their price objective on shares of Textron from $74.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Finally, Susquehanna Bancshares dropped their target price on shares of Textron from $90.00 to $84.00 and set a “positive” rating on the stock in a research report on Friday, July 29th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Textron has an average rating of “Moderate Buy” and an average price target of $81.33.

Textron Price Performance

Shares of NYSE:TXT opened at $62.83 on Monday. Textron Inc. has a twelve month low of $57.11 and a twelve month high of $79.45. The stock’s 50 day moving average is $64.28 and its 200-day moving average is $65.99. The company has a quick ratio of 1.22, a current ratio of 2.30 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.27 and a beta of 1.55.

Textron (NYSE:TXTGet Rating) last released its quarterly earnings data on Thursday, July 28th. The aerospace company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.12. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.22 billion. Textron had a net margin of 6.43% and a return on equity of 12.25%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 earnings per share. Sell-side analysts forecast that Textron Inc. will post 3.97 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Thursday, September 8th. Textron’s dividend payout ratio (DPR) is presently 2.20%.

About Textron

(Get Rating)

Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company's 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.

Recommended Stories

Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXTGet Rating).

Institutional Ownership by Quarter for Textron (NYSE:TXT)

Receive News & Ratings for Textron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron and related companies with MarketBeat.com's FREE daily email newsletter.