SG Capital Management LLC purchased a new stake in shares of Textron Inc. (NYSE:TXT) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 23,255 shares of the aerospace company’s stock, valued at approximately $1,662,000.

A number of other institutional investors also recently modified their holdings of the business. TCW Group Inc. increased its stake in Textron by 5.0% during the 2nd quarter. TCW Group Inc. now owns 2,952,226 shares of the aerospace company’s stock valued at $194,581,000 after purchasing an additional 139,578 shares in the last quarter. Millennium Management LLC increased its stake in Textron by 16.3% during the 1st quarter. Millennium Management LLC now owns 1,068,792 shares of the aerospace company’s stock valued at $63,027,000 after purchasing an additional 149,673 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Textron by 0.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,028,167 shares of the aerospace company’s stock valued at $67,767,000 after purchasing an additional 3,899 shares in the last quarter. Bank of America Corp DE increased its stake in Textron by 10.4% during the 2nd quarter. Bank of America Corp DE now owns 1,016,754 shares of the aerospace company’s stock valued at $67,014,000 after purchasing an additional 95,436 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Textron by 8.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 810,383 shares of the aerospace company’s stock valued at $53,412,000 after purchasing an additional 64,625 shares in the last quarter. Institutional investors and hedge funds own 82.76% of the company’s stock.

In other news, EVP E Robert Lupone sold 45,000 shares of the company’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $67.50, for a total value of $3,037,500.00. Following the sale, the executive vice president now directly owns 121,838 shares of the company’s stock, valued at approximately $8,224,065. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Scott C. Donnelly sold 82,647 shares of the company’s stock in a transaction on Friday, July 27th. The shares were sold at an average price of $67.17, for a total transaction of $5,551,398.99. Following the completion of the sale, the chairman now directly owns 639,916 shares in the company, valued at $42,983,157.72. The disclosure for this sale can be found here. Insiders sold a total of 134,209 shares of company stock worth $9,035,968 over the last ninety days. Insiders own 1.20% of the company’s stock.

TXT has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Textron to $82.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Zacks Investment Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Tuesday, July 17th. Bank of America set a $78.00 price target on shares of Textron and gave the company a “buy” rating in a research note on Wednesday, July 25th. Morgan Stanley set a $71.00 price target on shares of Textron and gave the company a “hold” rating in a research note on Thursday, October 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Textron from $74.00 to $77.00 and gave the company a “$66.52” rating in a report on Monday, July 23rd. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $73.33.

Shares of TXT stock traded up $0.21 during trading hours on Friday, hitting $57.70. The company’s stock had a trading volume of 14,661 shares, compared to its average volume of 1,481,881. The company has a market capitalization of $16.09 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 1.70 and a beta of 1.40. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.27 and a quick ratio of 1.11. Textron Inc. has a 12-month low of $51.07 and a 12-month high of $72.87.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 18th. The aerospace company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.15). The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Textron had a net margin of 3.21% and a return on equity of 13.93%. The firm’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. As a group, sell-side analysts forecast that Textron Inc. will post 3.33 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 14th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Thursday, September 13th. Textron’s dividend payout ratio (DPR) is currently 3.27%.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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