Dynamic Technology Lab Private Ltd Acquires 5,880 Shares of Textron Inc. (NYSE:TXT)

Dynamic Technology Lab Private Ltd lifted its stake in Textron Inc. (NYSE:TXT) by 57.6% in the third quarter, Holdings Channel.com reports. The fund owned 16,094 shares of the aerospace company’s stock after purchasing an additional 5,880 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Textron were worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions 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 acquiring an additional 43,225 shares during the period. Virtu Financial LLC grew its position in shares of Textron by 259.2% during the 1st quarter. Virtu Financial LLC now owns 17,367 shares of the aerospace company’s stock valued at $1,666,000 after purchasing an additional 12,532 shares in the last quarter. Easterly Investment Partners LLC increased its holdings in shares of Textron by 87.7% in the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock worth $3,659,000 after purchasing an additional 19,304 shares during the period. KBC Group NV purchased a new stake in shares of Textron in the third quarter worth $1,797,000. Finally, Atria Investments Inc purchased a new stake in shares of Textron in the first quarter worth $1,204,000. 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 firm has a market cap of $15.79 billion, a P/E ratio of 18.71, a P/E/G ratio of 1.54 and a beta of 1.24. The firm’s fifty day moving average is $85.97 and its 200 day moving average is $87.19. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83.

Textron (NYSE:TXT) last released its quarterly earnings data 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 analysts’ expectations of $3.50 billion. During the same quarter in the prior year, the firm posted $1.49 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. Research analysts predict that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Dividend Announcement

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

Wall Street Analysts Forecast Growth

TXT has been the topic of a number of research analyst reports. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. UBS Group cut their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. Finally, Robert W. Baird lowered their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Textron presently has an average 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.