BNP Paribas Financial Markets Buys 50,936 Shares of Textron Inc. (NYSE:TXT)

BNP Paribas Financial Markets lifted its holdings in shares of Textron Inc. (NYSE:TXT) by 14.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 398,366 shares of the aerospace company’s stock after purchasing an additional 50,936 shares during the period. BNP Paribas Financial Markets’ holdings in Textron were worth $35,287,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers increased its position in shares of Textron by 579.5% during the first quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock worth $4,862,000 after acquiring an additional 43,225 shares in the last quarter. Easterly Investment Partners LLC increased its position in shares of Textron by 87.7% during the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after acquiring an additional 19,304 shares in the last quarter. KBC Group NV bought a new stake in shares of Textron during the third quarter worth about $1,797,000. Atria Investments Inc bought a new stake in shares of Textron during the first quarter worth about $1,204,000. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Textron by 13.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock worth $43,884,000 after acquiring an additional 57,967 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Robert W. Baird cut their price target on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a 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. 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 report on Friday, October 25th. Finally, TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and cut their price target for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $101.56.

Textron Stock Up 0.6 %

TXT opened at $85.63 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The stock has a market cap of $15.89 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.53 and a beta of 1.24. Textron Inc. has a twelve month low of $74.61 and a twelve month high of $97.33. The company’s 50-day moving average price is $85.77 and its two-hundred day moving average price is $87.14.

Textron (NYSE:TXT) last released its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 earnings per share. As a group, equities analysts expect that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Dividend Announcement

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 paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s payout ratio is currently 1.76%.

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.