Neuberger Berman Group LLC Buys 158,090 Shares of Textron Inc. (NYSE:TXT)

Neuberger Berman Group LLC increased its stake in shares of Textron Inc. (NYSE:TXTGet Rating) by 23.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 820,864 shares of the aerospace company’s stock after acquiring an additional 158,090 shares during the quarter. Neuberger Berman Group LLC’s holdings in Textron were worth $61,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quent Capital LLC bought a new stake in Textron in the 4th quarter worth $40,000. Lazard Asset Management LLC bought a new position in Textron in the 1st quarter worth $40,000. Bank of New Hampshire purchased a new position in shares of Textron during the first quarter valued at about $43,000. IndexIQ Advisors LLC purchased a new stake in Textron in the first quarter worth about $55,000. Finally, Prospera Financial Services Inc purchased a new position in shares of Textron during the 1st quarter worth approximately $60,000. Institutional investors own 87.80% of the company’s stock.

Textron Stock Performance

Shares of TXT stock opened at $62.83 on Monday. The company has a quick ratio of 1.22, a current ratio of 2.30 and a debt-to-equity ratio of 0.52. The company has a 50 day moving average price of $64.28 and a 200-day moving average price of $65.99. Textron Inc. has a 52 week low of $57.11 and a 52 week high of $79.45. The firm has a market capitalization of $13.29 billion, a PE ratio of 17.31, a P/E/G ratio of 1.27 and a beta of 1.55.

Textron (NYSE:TXTGet Rating) last posted its earnings results on Thursday, July 28th. The aerospace company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.12. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.22 billion. Textron had a net margin of 6.43% and a return on equity of 12.25%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. As a group, equities research analysts expect that Textron Inc. will post 3.97 earnings per share for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Thursday, September 8th. Textron’s payout ratio is currently 2.20%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TXT shares. Bank of America reduced their price target on Textron from $74.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. Cfra lifted their price target on shares of Textron to $73.00 in a research report on Tuesday, August 9th. Cowen set a $86.00 target price on shares of Textron in a research note on Tuesday, July 19th. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 13th. Finally, Sanford C. Bernstein assumed coverage on Textron in a report on Tuesday, September 13th. They set a “market perform” rating for the company. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.33.

Textron Company Profile

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Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company's 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.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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