Eaton Vance Management Increases Position in Textron Inc. (TXT)

Eaton Vance Management increased its stake in Textron Inc. (NYSE:TXT) by 26.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 280,815 shares of the aerospace company’s stock after acquiring an additional 58,080 shares during the period. Eaton Vance Management owned about 0.11% of Textron worth $13,226,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Cleararc Capital Inc. grew its position in Textron by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,098 shares of the aerospace company’s stock worth $290,000 after acquiring an additional 16 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Textron by 0.8% in the second quarter. Parkside Financial Bank & Trust now owns 3,226 shares of the aerospace company’s stock worth $152,000 after acquiring an additional 26 shares in the last quarter. Intrust Bank NA grew its position in Textron by 0.6% in the second quarter. Intrust Bank NA now owns 5,892 shares of the aerospace company’s stock worth $277,000 after acquiring an additional 33 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its position in Textron by 1.6% in the second quarter. Canandaigua National Bank & Trust Co. now owns 4,815 shares of the aerospace company’s stock worth $227,000 after acquiring an additional 75 shares in the last quarter. Finally, YHB Investment Advisors Inc. grew its position in Textron by 1.3% in the first quarter. YHB Investment Advisors Inc. now owns 7,398 shares of the aerospace company’s stock worth $345,000 after acquiring an additional 98 shares in the last quarter. Institutional investors own 81.50% of the company’s stock.

Several brokerages recently issued reports on TXT. Zacks Investment Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Tuesday, July 18th. BidaskClub lowered shares of Textron from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 5th. ValuEngine upgraded shares of Textron from a “hold” rating to a “buy” rating in a research report on Friday. Drexel Hamilton upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a research report on Monday. Finally, Morgan Stanley upped their price target on shares of Textron from $45.00 to $47.00 and gave the company an “underweight” rating in a research report on Thursday, August 17th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $53.42.

Shares of Textron Inc. (TXT) opened at 51.19 on Tuesday. The stock has a market capitalization of $13.55 billion, a price-to-earnings ratio of 15.65 and a beta of 1.56. Textron Inc. has a 12-month low of $37.19 and a 12-month high of $51.19. The stock’s 50 day moving average is $48.75 and its 200-day moving average is $47.72.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, July 19th. The aerospace company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Textron had a net margin of 6.45% and a return on equity of 11.97%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the previous year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts expect that Textron Inc. will post $2.53 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.16%. Textron’s dividend payout ratio is presently 2.45%.

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About Textron

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. The Textron Aviation segment is engaged in general aviation.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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