Textron Inc. (NYSE:TXT) Shares Bought by Delphi Management Inc. MA

Delphi Management Inc. MA grew its stake in Textron Inc. (NYSE:TXT) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,012 shares of the aerospace company’s stock after buying an additional 402 shares during the period. Delphi Management Inc. MA’s holdings in Textron were worth $1,632,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Wedge Capital Management L L P NC purchased a new position in shares of Textron during the second quarter worth about $64,319,000. Ferguson Wellman Capital Management Inc. purchased a new position in Textron during the 1st quarter worth approximately $45,932,000. Canada Pension Plan Investment Board increased its position in Textron by 1,611.9% during the first quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock worth $41,547,000 after buying an additional 407,800 shares during the period. LSV Asset Management lifted its stake in Textron by 6.9% in the first quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock valued at $388,809,000 after buying an additional 260,003 shares during the last quarter. Finally, Brandes Investment Partners LP boosted its holdings in shares of Textron by 20.0% in the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after acquiring an additional 258,778 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Trading Up 0.9 %

NYSE:TXT opened at $88.56 on Tuesday. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The stock has a fifty day moving average price of $88.20 and a two-hundred day moving average price of $89.11. The stock has a market capitalization of $16.59 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 1.39 and a beta of 1.23.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter last year, the business earned $1.46 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Textron Inc. will post 6.18 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on TXT. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research report on Thursday, August 8th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Bank of America raised their price target on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Citigroup upped their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and lowered their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $101.50.

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.