Franklin Resources Inc. Purchases 15,294 Shares of Textron Inc. (NYSE:TXT)

Franklin Resources Inc. boosted its position in Textron Inc. (NYSE:TXT) by 10.3% in the third quarter, HoldingsChannel reports. The firm owned 164,029 shares of the aerospace company’s stock after buying an additional 15,294 shares during the quarter. Franklin Resources Inc.’s holdings in Textron were worth $14,505,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Textron in the second quarter valued at approximately $25,000. True Wealth Design LLC bought a new position in Textron in the 3rd quarter valued at $26,000. Family Firm Inc. bought a new position in Textron in the 2nd quarter valued at $40,000. Capital Performance Advisors LLP purchased a new stake in shares of Textron during the 3rd quarter valued at $42,000. Finally, Truvestments Capital LLC bought a new stake in shares of Textron during the 3rd quarter worth $43,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Textron stock opened at $76.85 on Friday. The firm has a market capitalization of $14.26 billion, a P/E ratio of 16.89, a PEG ratio of 1.46 and a beta of 1.25. Textron Inc. has a one year low of $75.36 and a one 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. The business has a fifty day moving average price of $84.34 and a 200-day moving average price of $86.51.

Textron (NYSE:TXT) last issued its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the business earned $1.49 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The company 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 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Wall Street Analyst Weigh In

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

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.