International Assets Investment Management LLC Purchases New Holdings in Textron Inc. $TXT

International Assets Investment Management LLC purchased a new position in Textron Inc. (NYSE:TXT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 50,000 shares of the aerospace company’s stock, valued at approximately $3,810,000.

Several other institutional investors have also modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Textron during the second quarter worth $1,434,125,000. Primecap Management Co. CA purchased a new position in Textron in the second quarter valued at $111,723,000. Bank of New York Mellon Corp purchased a new position in Textron in the second quarter valued at $105,946,000. Great Lakes Advisors LLC acquired a new position in Textron during the 2nd quarter worth $81,224,000. Finally, Legal & General Group Plc acquired a new position in Textron during the 2nd quarter worth $78,431,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Price Performance

Textron stock opened at $83.66 on Friday. The company has a current ratio of 1.80, a quick ratio of 0.82 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $78.96 and a 200-day simple moving average of $88.14. The stock has a market cap of $14.17 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 1.12 and a beta of 0.88. Textron Inc. has a 12-month low of $71.87 and a 12-month high of $101.57.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 29th. The aerospace company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.43 by $0.33. Textron had a return on equity of 14.34% and a net margin of 6.30%. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. Textron’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities analysts expect that Textron Inc. will post 6.63 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 11th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, December 11th. Textron’s dividend payout ratio is currently 1.44%.

Analysts Set New Price Targets

Several brokerages have weighed in on TXT. Citigroup upped their price target on Textron from $86.00 to $97.00 and gave the stock a “neutral” rating in a report on Monday, November 2nd. UBS Group lifted their price objective on Textron from $86.00 to $94.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Wall Street Zen lowered shares of Textron from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings lowered shares of Textron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, October 27th. Finally, Morgan Stanley raised their target price on shares of Textron from $86.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $101.09.

Textron Profile

Textron Inc is a diversified industrial and aerospace company whose businesses design, manufacture and support products for commercial, government and consumer markets. Its operations include aviation, defense and industrial products, with customers in the United States and internationally.

Through Textron Aviation, the company produces Cessna and Beechcraft aircraft, including business jets, turboprops and piston-engine aircraft, and provides related maintenance and support services. Its Bell business makes military and commercial helicopters and tiltrotor aircraft, while Textron Systems develops defense and aerospace products such as unmanned aircraft and other mission systems.

Textron’s industrial businesses make products that include specialty vehicles, golf cars, outdoor power equipment and components.