3Chopt Investment Partners LLC Buys Shares of 5,165 Textron Inc. (NYSE:TXT)

3Chopt Investment Partners LLC acquired a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,165 shares of the aerospace company's stock, valued at approximately $373,000.

Other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Textron by 16.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,193 shares of the aerospace company's stock valued at $1,474,000 after purchasing an additional 2,803 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in Textron by 17.0% during the first quarter. Illinois Municipal Retirement Fund now owns 102,953 shares of the aerospace company's stock valued at $7,438,000 after buying an additional 14,961 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Textron by 3.1% during the first quarter. Robeco Institutional Asset Management B.V. now owns 527,731 shares of the aerospace company's stock valued at $38,129,000 after buying an additional 15,961 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Textron by 4.4% during the first quarter. Sequoia Financial Advisors LLC now owns 49,942 shares of the aerospace company's stock valued at $3,608,000 after buying an additional 2,101 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in Textron by 134.2% during the first quarter. Golden State Wealth Management LLC now owns 1,925 shares of the aerospace company's stock valued at $139,000 after buying an additional 1,103 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on TXT. Morgan Stanley reduced their price objective on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. UBS Group raised their target price on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research note on Monday, April 28th. Citigroup lowered their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $95.00 price target (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Textron has an average rating of "Moderate Buy" and a consensus target price of $88.36.

Textron Trading Up 0.1%

Shares of TXT opened at $80.34 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $94.57. The company has a 50 day simple moving average of $74.05 and a two-hundred day simple moving average of $73.86. The firm has a market cap of $14.50 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 1.31 and a beta of 1.16.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. Textron had a net margin of 5.98% and a return on equity of 14.77%. Textron's quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the company posted $1.20 earnings per share. On average, equities analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron's payout ratio is 1.81%.

About Textron

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.

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