Jupiter Asset Management Ltd. Makes New Investment in Textron Inc. (NYSE:TXT)

Jupiter Asset Management Ltd. bought a new position in shares of Textron Inc. (NYSE:TXT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,544 shares of the aerospace company's stock, valued at approximately $545,000.

A number of other institutional investors also recently bought and sold shares of TXT. Banque Cantonale Vaudoise purchased a new position in Textron during the first quarter worth about $25,000. Harvest Fund Management Co. Ltd raised its stake in Textron by 100.0% during the first quarter. Harvest Fund Management Co. Ltd now owns 524 shares of the aerospace company's stock worth $39,000 after purchasing an additional 262 shares during the period. Optiver Holding B.V. purchased a new position in Textron during the fourth quarter worth about $56,000. Federated Hermes Inc. raised its stake in Textron by 48.8% during the first quarter. Federated Hermes Inc. now owns 802 shares of the aerospace company's stock worth $58,000 after purchasing an additional 263 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Textron by 123.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock worth $61,000 after purchasing an additional 465 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TXT shares. UBS Group upgraded shares of Textron from a "sell" rating to a "neutral" rating and lifted their price target for the company from $73.00 to $88.00 in a research report on Monday, July 28th. Jefferies Financial Group reiterated a "buy" rating and set a $95.00 price target (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. Wall Street Zen cut shares of Textron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. Citigroup dropped their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Susquehanna lifted their price target on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research report on Friday, July 25th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $92.67.

Textron Trading Up 0.7%

Shares of TXT stock opened at $77.77 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. The stock has a market capitalization of $13.86 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.26 and a beta of 1.16. The company has a 50 day moving average price of $79.43 and a 200 day moving average price of $74.69. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $91.48.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.10. The firm had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.54 earnings per share. Equities research analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron's payout ratio is 1.81%.

Insider Buying and Selling

In other Textron news, EVP Julie G. Duffy sold 28,543 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the completion of the transaction, the executive vice president owned 37,624 shares in the company, valued at $2,986,216.88. The trade was a 43.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by company insiders.

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.

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