Brooklyn Investment Group Buys Shares of 1,579 Textron Inc. (NYSE:TXT)

Brooklyn Investment Group purchased a new position in shares of Textron Inc. (NYSE:TXT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,579 shares of the aerospace company’s stock, valued at approximately $140,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Innealta Capital LLC purchased a new position in Textron during the second quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Textron during the 2nd quarter worth approximately $30,000. Oakworth Capital Inc. purchased a new position in shares of Textron during the 2nd quarter worth approximately $31,000. Family Firm Inc. acquired a new stake in Textron in the 2nd quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in Textron in the third quarter valued at approximately $42,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Performance

Shares of TXT stock opened at $85.10 on Thursday. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $85.90 and a 200 day moving average price of $87.17. The company has a market cap of $15.79 billion, a P/E ratio of 18.70, a PEG ratio of 1.54 and a beta of 1.24. Textron Inc. has a 12 month low of $74.13 and a 12 month high of $97.33.

Textron (NYSE:TXT) last issued its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 EPS. Sell-side analysts predict that Textron Inc. will post 5.53 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio (DPR) is 1.76%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TXT shares. Robert W. Baird lowered their price target on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, UBS Group cut their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

Textron 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.