Textron Inc. (NYSE:TXT) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its position in shares of Textron Inc. (NYSE:TXT) by 6.1% during the second quarter, Holdings Channel reports. The fund owned 2,808,600 shares of the aerospace company’s stock after acquiring an additional 160,923 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Textron were worth $241,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TXT. Altman Advisors Inc. boosted its holdings in shares of Textron by 0.6% during the second quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock worth $1,894,000 after purchasing an additional 129 shares during the last quarter. True Vision MN LLC grew its holdings in Textron by 2.5% in the 1st quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock valued at $513,000 after buying an additional 133 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Textron by 0.8% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock valued at $1,558,000 after acquiring an additional 146 shares during the last quarter. Czech National Bank lifted its holdings in shares of Textron by 0.5% during the 1st quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock worth $3,308,000 after acquiring an additional 157 shares during the period. Finally, Pinnacle Associates Ltd. boosted its position in shares of Textron by 0.6% in the first quarter. Pinnacle Associates Ltd. now owns 30,614 shares of the aerospace company’s stock worth $2,937,000 after acquiring an additional 181 shares during the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Stock Performance

Shares of NYSE:TXT opened at $87.49 on Thursday. The business’s 50-day simple moving average is $88.78 and its 200 day simple moving average is $89.34. The company has a market cap of $16.39 billion, a P/E ratio of 18.69, a PEG ratio of 1.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. Textron Inc. has a one year low of $74.13 and a one year high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 earnings per share. On average, sell-side analysts forecast that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, September 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is presently 1.71%.

Wall Street Analysts Forecast Growth

TXT has been the topic of a number of research analyst reports. TD Cowen lifted their price target on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 19th. UBS Group boosted their price target on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. Citigroup raised their price objective on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, 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 report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and an average price target of $102.50.

About Textron

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.