Textron Inc. (NYSE:TXT) Position Increased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. boosted its holdings in Textron Inc. (NYSE:TXT - Free Report) by 10.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 74,463 shares of the aerospace company's stock after buying an additional 7,249 shares during the period. Asset Management One Co. Ltd.'s holdings in Textron were worth $5,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in shares of Textron in the fourth quarter worth approximately $31,000. Optiver Holding B.V. acquired a new position in shares of Textron in the 4th quarter valued at $56,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Textron by 123.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock valued at $61,000 after purchasing an additional 465 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Textron by 22.9% during the 1st quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock valued at $81,000 after buying an additional 208 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Textron during the 1st quarter worth $92,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Analyst Upgrades and Downgrades

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

Textron Stock Up 0.7%

NYSE:TXT traded up $0.60 on Wednesday, reaching $81.58. The stock had a trading volume of 550,359 shares, compared to its average volume of 1,259,064. The company has a 50-day moving average of $74.68 and a 200 day moving average of $73.85. The company has a current ratio of 1.80, a quick ratio of 0.83 and a debt-to-equity ratio of 0.46. The stock has a market cap of $14.73 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 1.31 and a beta of 1.17. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $94.57.

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 (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. Textron had a return on equity of 14.77% and a net margin of 5.98%. Textron's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 EPS. On average, research analysts predict 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. Stockholders of record on Friday, June 13th were given a dividend of $0.02 per share. The ex-dividend date was Friday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron's payout ratio is 1.81%.

Textron 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.