State Treasurer State of Michigan increased its position in shares of Textron Inc. (NYSE:TXT) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 94,081 shares of the company’s stock after buying an additional 700 shares during the period. State Treasurer State of Michigan’s holdings in Textron were worth $3,740,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TXT. FTB Advisors Inc. increased its stake in Textron by 7.7% in the third quarter. FTB Advisors Inc. now owns 3,050 shares of the company’s stock valued at $115,000 after buying an additional 218 shares in the last quarter. Meeder Asset Management Inc. increased its stake in Textron by 225.8% in the second quarter. Meeder Asset Management Inc. now owns 3,323 shares of the company’s stock valued at $121,000 after buying an additional 2,303 shares in the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in Textron by 107.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,561 shares of the company’s stock valued at $130,000 after buying an additional 1,841 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in Textron during the third quarter valued at about $208,000. Finally, Pacer Advisors Inc. increased its stake in Textron by 9.3% in the second quarter. Pacer Advisors Inc. now owns 5,440 shares of the company’s stock valued at $199,000 after buying an additional 464 shares in the last quarter. 80.44% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Textron (NYSE:TXT)

Textron Inc. (NYSE:TXT) traded up 0.61% during midday trading on Tuesday, hitting $45.98. 1,183,112 shares of the stock traded hands. Textron Inc. has a 12-month low of $30.69 and a 12-month high of $46.15. The stock has a market capitalization of $12.42 billion, a PE ratio of 12.90 and a beta of 1.77. The firm’s 50 day moving average is $41.17 and its 200-day moving average is $39.49.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by $0.05. Textron had a return on equity of 13.85% and a net margin of 7.01%. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period last year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts anticipate that Textron Inc. will post $2.70 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 9th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $0.08 dividend on an annualized basis and a yield of 0.17%. Textron’s dividend payout ratio (DPR) is 2.24%.

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Several analysts recently issued reports on TXT shares. Vertical Research started coverage on shares of Textron in a report on Friday, October 28th. They set a “buy” rating and a $46.00 price objective for the company. Jefferies Group set a $50.00 price objective on shares of Textron and gave the stock a “buy” rating in a report on Thursday, October 6th. Credit Suisse Group AG reiterated a “buy” rating on shares of Textron in a research note on Wednesday, August 31st. Drexel Hamilton reiterated a “hold” rating on shares of Textron in a research note on Wednesday, August 31st. Finally, Robert W. Baird started coverage on shares of Textron in a research note on Wednesday, October 5th. They set an “outperform” rating and a $48.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Textron presently has an average rating of “Buy” and a consensus price target of $46.68.

Textron Company Profile

Textron Inc is a multi-industry company engaged in aircraft, defense, industrial and finance businesses to provide customers with products and services across the world. The Company operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial and Finance. Textron Aviation manufactures, sells and services Beechcraft and Cessna aircraft, and services the Hawker brand of business jets.

5 Day Chart for NYSE:TXT

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