Daiwa Securities Group Inc. Acquires 4,976 Shares of Textron Inc. (NYSE:TXT)

Daiwa Securities Group Inc. lifted its holdings in Textron Inc. (NYSE:TXT) by 29.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,840 shares of the aerospace company’s stock after buying an additional 4,976 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Textron were worth $1,756,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. CVA Family Office LLC bought a new position in shares of Textron in the fourth quarter valued at about $29,000. Trust Co. of Vermont bought a new position in shares of Textron in the third quarter valued at about $37,000. Global Retirement Partners LLC raised its holdings in Textron by 393.9% during the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock worth $37,000 after purchasing an additional 390 shares during the last quarter. Morton Brown Family Wealth LLC bought a new stake in Textron during the 4th quarter worth about $40,000. Finally, Provence Wealth Management Group bought a new stake in Textron during the 3rd quarter worth about $39,000. 86.03% of the stock is owned by institutional investors.

Textron Price Performance

Textron stock opened at $93.77 on Tuesday. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average of $91.77 and a 200-day moving average of $83.61. Textron Inc. has a 1 year low of $61.27 and a 1 year high of $97.33. The firm has a market capitalization of $18.04 billion, a P/E ratio of 20.52, a PEG ratio of 1.47 and a beta of 1.30.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the previous year, the firm earned $1.07 EPS. Textron’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Textron Inc. will post 6.27 EPS for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is presently 1.75%.

Wall Street Analysts Forecast Growth

TXT has been the subject of several recent research reports. UBS Group boosted their price objective on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a report on Friday, January 26th. Citigroup boosted their price objective on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. The Goldman Sachs Group boosted their price objective on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $105.00 in a report on Friday, March 8th. Finally, StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.63.

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.