Millburn Ridgefield Corp Makes New Investment in Textron Inc. (NYSE:TXT)

Millburn Ridgefield Corp acquired a new position in shares of Textron Inc. (NYSE:TXT) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 1,035 shares of the aerospace company’s stock, valued at approximately $92,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its holdings in Textron by 579.5% during the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock worth $4,862,000 after purchasing an additional 43,225 shares in the last quarter. Easterly Investment Partners LLC boosted its stake in shares of Textron by 87.7% in the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after buying an additional 19,304 shares during the last quarter. KBC Group NV purchased a new position in shares of Textron in the 3rd quarter worth approximately $1,797,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Textron by 13.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock worth $43,884,000 after buying an additional 57,967 shares during the last quarter. Finally, Marietta Wealth Management LLC purchased a new position in shares of Textron in the 2nd quarter worth approximately $2,644,000. 86.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TXT shares. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. UBS Group cut their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. 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 research note on Friday, October 25th. 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 research note on Wednesday, September 25th. Finally, Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Textron presently has an average rating of “Moderate Buy” and an average price target of $101.56.

Textron Trading Down 0.1 %

NYSE:TXT opened at $85.06 on Thursday. The company has a market cap of $15.78 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.54 and a beta of 1.25. The stock’s fifty day moving average price is $85.67 and its two-hundred day moving average price is $87.07. Textron Inc. has a 1 year low of $75.70 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.49 EPS. As a group, analysts expect that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is currently 1.76%.

Textron 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.