International Assets Investment Management LLC Makes New $31.71 Million Investment in Textron Inc. (NYSE:TXT)

International Assets Investment Management LLC purchased a new position in Textron Inc. (NYSE:TXT) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 394,347 shares of the aerospace company’s stock, valued at approximately $31,713,000.

A number of other hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. increased its position in shares of Textron by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 6,756,439 shares of the aerospace company’s stock valued at $527,948,000 after purchasing an additional 220,891 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Textron by 11.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock worth $448,923,000 after purchasing an additional 596,214 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Textron by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company’s stock worth $421,503,000 after purchasing an additional 477,720 shares in the last quarter. LSV Asset Management lifted its stake in Textron by 7.6% during the third quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock valued at $255,656,000 after purchasing an additional 230,560 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Textron by 4.0% during the third quarter. Northern Trust Corp now owns 1,757,258 shares of the aerospace company’s stock worth $137,312,000 after buying an additional 66,999 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Trading Up 0.2 %

Textron stock opened at $85.53 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. Textron Inc. has a 12 month low of $61.27 and a 12 month high of $97.33. The company’s fifty day simple moving average is $92.11 and its 200-day simple moving average is $84.04. The stock has a market cap of $16.31 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.34 and a beta of 1.32.

Textron (NYSE:TXT) last issued its earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter last year, the firm earned $1.05 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio is currently 1.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Susquehanna decreased their target price on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, April 26th. Citigroup boosted their price target on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $105.00 in a research note on Friday, March 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.63.

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.