International Assets Investment Management LLC Makes New $3.81 Million Investment in Textron Inc. $TXT

Key Points

• International Assets Investment Management acquired 50,000 Textron shares worth approximately $3.81 million in the third quarter. Institutional investors and hedge funds collectively own 86.03% of the company.
• Analysts maintain a generally positive outlook, with Textron carrying a consensus “Moderate Buy” rating and an average price target of $101.20.
• Textron’s latest quarterly results exceeded expectations, with EPS of $1.76 versus the $1.43 consensus estimate, while revenue rose 4.1% year over year to $3.75 billion. The company also declared a quarterly dividend of $0.02 per share.

International Assets Investment Management LLC acquired a new position in shares of Textron Inc. (NYSE:TXT - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 50,000 shares of the aerospace company's stock, valued at approximately $3,810,000.

Several other institutional investors have also made changes to their positions in the business. Essex Financial Services Inc. raised its position in Textron by 4.9% in the first quarter. Essex Financial Services Inc. now owns 2,712 shares of the aerospace company's stock worth $237,000 after purchasing an additional 127 shares in the last quarter. Wedmont Private Capital lifted its stake in Textron by 4.0% during the second quarter. Wedmont Private Capital now owns 4,896 shares of the aerospace company's stock worth $445,000 after purchasing an additional 187 shares during the period. Twin Capital Management Inc. boosted its holdings in Textron by 1.5% during the first quarter. Twin Capital Management Inc. now owns 12,722 shares of the aerospace company's stock valued at $1,114,000 after purchasing an additional 189 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in Textron by 0.4% during the first quarter. Resona Asset Management Co. Ltd. now owns 53,279 shares of the aerospace company's stock valued at $4,650,000 after purchasing an additional 220 shares in the last quarter. Finally, Nissay Asset Management Corp Japan grew its stake in shares of Textron by 1.1% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 23,161 shares of the aerospace company's stock valued at $2,125,000 after purchasing an additional 241 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TXT shares. UBS Group increased their target price on Textron from $86.00 to $94.00 and gave the stock a "neutral" rating in a report on Friday. Freedom Broker decreased their price target on Textron from $108.00 to $101.00 and set a "buy" rating on the stock in a research note on Monday. Citigroup upped their price target on Textron from $86.00 to $97.00 and gave the company a "neutral" rating in a research report on Monday. Weiss Ratings cut Textron from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, October 27th. Finally, TD Cowen reduced their target price on shares of Textron from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $101.20.

Textron Trading Up 3.3%

TXT stock opened at $88.53 on Tuesday. The business has a fifty day moving average price of $78.69 and a 200 day moving average price of $88.30. Textron Inc. has a fifty-two week low of $71.87 and a fifty-two week high of $101.57. The stock has a market capitalization of $15.23 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 1.14 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.86 and a quick ratio of 0.85.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The aerospace company reported $1.76 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.33. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.77 billion. Textron had a return on equity of 14.30% and a net margin of 6.12%. The business's revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 earnings per share. Analysts expect that Textron Inc. will post 6.60 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 11th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Friday, December 11th. Textron's payout ratio is currently 1.44%.

Textron Profile

Textron Inc NYSE: TXT is a diversified industrial company that develops and manufactures aircraft, helicopters, specialized vehicles, defense systems and other industrial products. Founded in 1923 by Royal Little, the company has grown through the development and acquisition of businesses serving commercial, government and consumer markets.

Textron Aviation produces business jets, turboprop aircraft and general aviation aircraft under the Cessna and Beechcraft brands. Bell designs and manufactures military and commercial helicopters, tiltrotor aircraft and related support services.

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