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

3Chopt Investment Partners LLC bought a new position in Textron Inc. (NYSE:TXT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,165 shares of the aerospace company's stock, valued at approximately $373,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Syon Capital LLC increased its stake in shares of Textron by 4.5% in the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock worth $271,000 after buying an additional 153 shares during the last quarter. Motley Fool Asset Management LLC grew its stake in Textron by 6.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock worth $209,000 after purchasing an additional 163 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Textron by 10.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,881 shares of the aerospace company's stock worth $144,000 after purchasing an additional 175 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Textron by 7.4% in the first quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock valued at $207,000 after buying an additional 197 shares during the last quarter. Finally, Metis Global Partners LLC lifted its stake in Textron by 3.3% during the fourth quarter. Metis Global Partners LLC now owns 6,315 shares of the aerospace company's stock worth $483,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Stock Up 1.1%

Shares of Textron stock traded up $0.89 during midday trading on Wednesday, hitting $81.87. The company's stock had a trading volume of 741,866 shares, compared to its average volume of 1,260,602. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $94.57. The company has a quick ratio of 0.83, a current ratio of 1.80 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $14.78 billion, a P/E ratio of 18.56, a PEG ratio of 1.31 and a beta of 1.17. The stock has a 50-day simple moving average of $74.68 and a 200-day simple moving average of $73.85.

Textron (NYSE:TXT - Get Free Report) last issued its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. Textron had a return on equity of 14.77% and a net margin of 5.98%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The business's quarterly revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron's dividend payout ratio (DPR) is presently 1.81%.

Analysts Set New Price Targets

Several analysts recently issued reports on TXT shares. Morgan Stanley cut their price target on Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Citigroup cut their target price on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. The Goldman Sachs Group restated a "neutral" rating and set a $85.00 price target (down previously from $95.00) on shares of Textron in a research report on Tuesday. UBS Group increased their price objective on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a report on Monday, April 28th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $95.00 target price (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $88.08.

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.