KBC Group NV Purchases 11,489 Shares of Textron Inc. (NYSE:TXT)

KBC Group NV grew its position in Textron Inc. (NYSE:TXT - Free Report) by 86.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,787 shares of the aerospace company's stock after acquiring an additional 11,489 shares during the period. KBC Group NV's holdings in Textron were worth $1,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wellington Management Group LLP boosted its stake in Textron by 50.2% in the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company's stock worth $46,137,000 after purchasing an additional 201,696 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Textron by 8.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 302,603 shares of the aerospace company's stock worth $22,916,000 after buying an additional 24,053 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Textron by 31.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 38,424 shares of the aerospace company's stock worth $2,776,000 after acquiring an additional 9,082 shares during the last quarter. HUB Investment Partners LLC increased its position in Textron by 30.3% in the 4th quarter. HUB Investment Partners LLC now owns 30,026 shares of the aerospace company's stock valued at $2,297,000 after acquiring an additional 6,990 shares in the last quarter. Finally, Graham Capital Management L.P. raised its stake in shares of Textron by 166.8% in the fourth quarter. Graham Capital Management L.P. now owns 67,000 shares of the aerospace company's stock worth $5,125,000 after acquiring an additional 41,888 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Trading Up 0.7%

Shares of NYSE TXT traded up $0.56 during midday trading on Friday, reaching $82.50. 907,016 shares of the stock were exchanged, compared to its average volume of 1,264,190. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $94.57. The company has a market capitalization of $14.89 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 1.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83. The business has a 50-day simple moving average of $75.28 and a two-hundred day simple moving average of $73.92.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. Textron had a return on equity of 14.77% and a net margin of 5.98%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the company earned $1.20 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend was Friday, June 13th. Textron's payout ratio is currently 1.81%.

Analysts Set New Price Targets

A number of analysts recently weighed in on TXT shares. Morgan Stanley lowered their price target on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. UBS Group boosted their target price on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research report on Monday, April 28th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $85.00 price target (down previously from $95.00) on shares of Textron in a report on Tuesday. Citigroup dropped their price objective on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $95.00 target price (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $88.08.

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.