Dimensional Fund Advisors LP Increases Holdings in Textron Inc. (TXT)

Dimensional Fund Advisors LP raised its stake in Textron Inc. (NYSE:TXT) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,604,911 shares of the aerospace company’s stock after buying an additional 32,525 shares during the quarter. Dimensional Fund Advisors LP owned about 1.37% of Textron worth $194,233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MRJ Capital Inc. acquired a new position in shares of Textron in the second quarter valued at about $3,589,000. Airain ltd acquired a new position in shares of Textron in the second quarter valued at about $2,608,000. NBT Bank N A NY grew its stake in shares of Textron by 0.8% in the second quarter. NBT Bank N A NY now owns 19,598 shares of the aerospace company’s stock valued at $923,000 after acquiring an additional 158 shares in the last quarter. Eaton Vance Management grew its stake in shares of Textron by 26.1% in the second quarter. Eaton Vance Management now owns 280,815 shares of the aerospace company’s stock valued at $13,226,000 after acquiring an additional 58,080 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Textron by 1.0% in the third quarter. First Trust Advisors LP now owns 904,301 shares of the aerospace company’s stock valued at $48,724,000 after acquiring an additional 9,022 shares in the last quarter. 82.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Inc. (NYSE:TXT) traded down $0.21 during midday trading on Tuesday, reaching $54.63. 1,016,800 shares of the company traded hands, compared to its average volume of 1,542,091. Textron Inc. has a twelve month low of $43.66 and a twelve month high of $56.47. The company has a current ratio of 2.08, a quick ratio of 0.96 and a debt-to-equity ratio of 0.67. The firm has a market cap of $14,445.98, a P/E ratio of 21.85, a P/E/G ratio of 2.51 and a beta of 1.57.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 19th. The aerospace company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. Textron had a net margin of 4.48% and a return on equity of 12.02%. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the firm posted $0.61 EPS. Textron’s revenue was up 7.2% compared to the same quarter last year. sell-side analysts anticipate that Textron Inc. will post 2.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.15%. The ex-dividend date is Thursday, December 14th. Textron’s payout ratio is currently 3.45%.

Several research firms recently commented on TXT. Zacks Investment Research downgraded shares of Textron from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. ValuEngine raised shares of Textron from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Drexel Hamilton raised shares of Textron from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Monday, September 11th. Jefferies Group reaffirmed a “buy” rating and set a $60.00 price objective on shares of Textron in a research report on Tuesday, September 26th. Finally, Cowen reaffirmed a “buy” rating and set a $60.00 price objective on shares of Textron in a research report on Thursday, October 19th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $57.82.

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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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