Asset Management One Co. Ltd. lifted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,463 shares of the aerospace company's stock after purchasing an additional 7,249 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Textron were worth $5,380,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Textron by 7.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company's stock valued at $109,257,000 after purchasing an additional 104,982 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Textron by 438.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 21,698 shares of the aerospace company's stock worth $1,660,000 after buying an additional 17,672 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Textron in the fourth quarter valued at about $6,512,000. ADG Wealth Management Group LLC acquired a new position in Textron during the fourth quarter worth about $206,000. Finally, US Bancorp DE lifted its holdings in shares of Textron by 7.4% in the fourth quarter. US Bancorp DE now owns 27,133 shares of the aerospace company's stock worth $2,075,000 after acquiring an additional 1,877 shares during the last quarter. Institutional investors own 86.03% of the company's stock.
Analyst Upgrades and Downgrades
TXT has been the topic of several research reports. Morgan Stanley decreased their price target on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. UBS Group upped their price target on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a report on Monday, April 28th. Citigroup cut their price objective on 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 issued a $95.00 target price (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Textron presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.36.
Read Our Latest Report on Textron
Textron Stock Performance
NYSE:TXT opened at $80.34 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.83 and a current ratio of 1.80. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week 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 company has a market capitalization of $14.50 billion, a PE ratio of 18.22, a P/E/G ratio of 1.31 and a beta of 1.16.
Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. Textron had a net margin of 5.98% and a return on equity of 14.77%. The company had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. During the same period in the prior year, the company posted $1.20 earnings per share. Textron's revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.
Textron Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron's dividend payout ratio is currently 1.81%.
Textron Profile
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Free Report)
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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