Easterly Investment Partners LLC Raises Holdings in Textron Inc. (NYSE:TXT)

Easterly Investment Partners LLC boosted its stake in shares of Textron Inc. (NYSE:TXT) by 87.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,305 shares of the aerospace company’s stock after purchasing an additional 19,304 shares during the quarter. Easterly Investment Partners LLC’s holdings in Textron were worth $3,659,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in Textron during the 2nd quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Textron during the 2nd quarter worth about $30,000. Oakworth Capital Inc. purchased a new stake in Textron during the 2nd quarter worth about $31,000. Family Firm Inc. purchased a new position in shares of Textron in the 2nd quarter valued at about $40,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Textron in the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup increased their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and dropped their price objective for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Robert W. Baird dropped their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. dropped their price target on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $101.56.

Textron Stock Performance

Textron stock traded up $1.10 during mid-day trading on Friday, reaching $88.97. 167,230 shares of the company were exchanged, compared to its average volume of 1,079,534. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33. The firm’s 50-day simple moving average is $86.63 and its two-hundred day simple moving average is $87.43. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The firm has a market cap of $16.50 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.59 and a beta of 1.24.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the business posted $1.49 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. Equities analysts predict that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

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.