Pictet Asset Management SA Boosts Stake in Textron Inc. (NYSE:TXT)

Pictet Asset Management SA raised its position in Textron Inc. (NYSE:TXTGet Rating) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,993 shares of the aerospace company’s stock after purchasing an additional 182 shares during the quarter. Pictet Asset Management SA’s holdings in Textron were worth $1,954,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TXT. JPMorgan Chase & Co. raised its position in Textron by 711.4% in the 1st quarter. JPMorgan Chase & Co. now owns 2,427,439 shares of the aerospace company’s stock worth $180,554,000 after purchasing an additional 2,128,278 shares during the period. Aaron Wealth Advisors LLC purchased a new stake in Textron in the 1st quarter worth about $17,117,000. BlackRock Inc. raised its position in Textron by 7.2% in the 1st quarter. BlackRock Inc. now owns 16,846,222 shares of the aerospace company’s stock worth $1,253,022,000 after purchasing an additional 1,126,776 shares during the period. Mariner LLC increased its position in shares of Textron by 2,973.5% during the first quarter. Mariner LLC now owns 471,666 shares of the aerospace company’s stock worth $35,083,000 after acquiring an additional 456,320 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Textron by 0.8% during the first quarter. Vanguard Group Inc. now owns 23,503,096 shares of the aerospace company’s stock worth $1,748,161,000 after acquiring an additional 177,502 shares during the period. 87.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on TXT shares. Cfra raised their target price on shares of Textron to $73.00 in a research report on Tuesday, August 9th. Morgan Stanley reduced their target price on shares of Textron from $90.00 to $84.00 and set an “overweight” rating on the stock in a research report on Friday, October 28th. Susquehanna Bancshares reduced their target price on shares of Textron from $90.00 to $84.00 and set a “positive” rating on the stock in a research report on Friday, July 29th. StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 6th. Finally, Sanford C. Bernstein assumed coverage on shares of Textron in a research report on Tuesday, September 13th. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.40.

Textron Price Performance

NYSE TXT opened at $70.53 on Tuesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.17 and a current ratio of 2.22. The firm’s 50 day moving average price is $64.36 and its 200-day moving average price is $63.84. Textron Inc. has a 52-week low of $57.11 and a 52-week high of $79.45. The company has a market cap of $14.72 billion, a PE ratio of 18.22, a P/E/G ratio of 1.15 and a beta of 1.52.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Friday, December 9th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s dividend payout ratio is presently 2.07%.

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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