Massachusetts Financial Services Co. MA Has $7.08 Million Position in Textron Inc. (NYSE:TXT)

Massachusetts Financial Services Co. MA lifted its stake in Textron Inc. (NYSE:TXT) by 5.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,973 shares of the aerospace company’s stock after acquiring an additional 4,023 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Textron were worth $7,084,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Textron in the 2nd quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Textron in the second quarter worth about $30,000. Oakworth Capital Inc. bought a new stake in shares of Textron during the 2nd quarter worth about $31,000. Family Firm Inc. acquired a new position in shares of Textron during the 2nd quarter valued at about $40,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Textron in the 3rd quarter valued at approximately $42,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Price Performance

TXT stock opened at $85.13 on Wednesday. The stock has a 50-day moving average price of $85.97 and a two-hundred day moving average price of $87.19. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The stock has a market cap of $15.79 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.49 earnings per share. Equities analysts forecast that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s payout ratio is 1.76%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Robert W. Baird cut their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and lowered their price target for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. cut their price objective on Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, UBS Group lowered their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

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.