Garner Asset Management Corp acquired a new position in shares of Textron Inc. (NYSE:TXT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,145 shares of the aerospace company's stock, valued at approximately $299,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Transce3nd LLC increased its stake in Textron by 14.0% in the first quarter. Transce3nd LLC now owns 1,617 shares of the aerospace company's stock valued at $116,000 after acquiring an additional 199 shares during the last quarter. Wealthfront Advisers LLC increased its position in shares of Textron by 2.8% during the 1st quarter. Wealthfront Advisers LLC now owns 36,861 shares of the aerospace company's stock valued at $2,663,000 after purchasing an additional 988 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Textron by 34.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 120,672 shares of the aerospace company's stock valued at $8,719,000 after purchasing an additional 30,892 shares during the last quarter. Dakota Wealth Management bought a new position in shares of Textron during the 1st quarter valued at about $256,000. Finally, Apollon Wealth Management LLC increased its position in shares of Textron by 6.4% during the 1st quarter. Apollon Wealth Management LLC now owns 3,599 shares of the aerospace company's stock valued at $260,000 after purchasing an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company's stock.
Textron Trading Down 1.8%
Shares of NYSE TXT traded down $1.48 during trading hours on Friday, hitting $79.45. The company's stock had a trading volume of 4,296,444 shares, compared to its average volume of 1,556,525. The business has a 50-day simple moving average of $78.99 and a 200-day simple moving average of $74.70. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.29 and a beta of 1.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.83 and a current ratio of 1.68. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $93.98.
Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.10. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 EPS. On average, analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
TXT has been the topic of several recent research reports. Citigroup reduced their price objective on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley increased their price objective on Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 target price (up previously from $85.00) on shares of Textron in a research report on Thursday, June 12th. Susquehanna raised their price objective on Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $85.00 price objective (down from $95.00) on shares of Textron in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Textron presently has a consensus rating of "Hold" and an average price target of $89.75.
Read Our Latest Analysis on TXT
About Textron
(
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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