Hilltop Holdings Inc. Acquires 1,042 Shares of Textron Inc. (NYSE:TXT)

Hilltop Holdings Inc. raised its holdings in Textron Inc. (NYSE:TXT) by 20.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,189 shares of the aerospace company’s stock after acquiring an additional 1,042 shares during the quarter. Hilltop Holdings Inc.’s holdings in Textron were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Textron in the second quarter worth about $25,000. True Wealth Design LLC bought a new position in Textron in the 3rd quarter worth about $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Textron during the second quarter worth approximately $30,000. Oakworth Capital Inc. bought a new stake in shares of Textron during the second quarter valued at approximately $31,000. Finally, Family Firm Inc. purchased a new stake in shares of Textron in the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on TXT. UBS Group lowered their target price on 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. dropped their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and lowered their price target for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Finally, Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Textron Stock Performance

Shares of TXT opened at $83.11 on Friday. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm has a market cap of $15.42 billion, a PE ratio of 18.27, a P/E/G ratio of 1.54 and a beta of 1.25. Textron Inc. has a 12 month low of $75.70 and a 12 month high of $97.33. The stock has a fifty day moving average price of $85.66 and a 200-day moving average price of $87.06.

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

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron’s dividend payout ratio is currently 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.