Textron Inc. (NYSE:TXT) Holdings Lifted by LPL Financial LLC

Key Points

• LPL Financial LLC increased its holdings in Textron Inc. by 4.9% in the first quarter, bringing its total to 89,732 shares valued at $6,483,000.
• Textron reported $1.55 EPS for the latest quarter, exceeding analysts' expectations of $1.45 EPS, and experienced a 5.4% year-over-year revenue growth.
• The company recently declared a quarterly dividend of $0.02 per share, set to be paid on October 1, with a current yield of 0.1%.

LPL Financial LLC raised its holdings in Textron Inc. (NYSE:TXT - Free Report) by 4.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 89,732 shares of the aerospace company's stock after acquiring an additional 4,204 shares during the period. LPL Financial LLC's holdings in Textron were worth $6,483,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Empirical Finance LLC raised its holdings in Textron by 4.4% in the 1st quarter. Empirical Finance LLC now owns 7,248 shares of the aerospace company's stock valued at $524,000 after acquiring an additional 306 shares during the last quarter. HB Wealth Management LLC raised its holdings in Textron by 10.5% in the 1st quarter. HB Wealth Management LLC now owns 5,274 shares of the aerospace company's stock valued at $381,000 after acquiring an additional 501 shares during the last quarter. TD Asset Management Inc raised its holdings in Textron by 2.2% in the 1st quarter. TD Asset Management Inc now owns 965,755 shares of the aerospace company's stock valued at $69,776,000 after acquiring an additional 20,733 shares during the last quarter. Stevens Capital Management LP acquired a new position in Textron in the 1st quarter valued at $378,000. Finally, Drive Wealth Management LLC purchased a new stake in shares of Textron during the 1st quarter valued at $1,023,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TXT. Susquehanna boosted their price objective on shares of Textron from $90.00 to $95.00 and gave the company a "positive" rating in a research note on Friday, July 25th. The Goldman Sachs Group reissued 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. Wall Street Zen cut shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Barclays upped their price target on shares of Textron from $95.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Morgan Stanley upped their price target on shares of Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.67.

Textron Stock Down 1.3%

NYSE:TXT traded down $1.08 on Friday, reaching $79.24. The stock had a trading volume of 534,924 shares, compared to its average volume of 1,531,484. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $80.12 and a 200 day moving average of $74.73. The stock has a market cap of $14.12 billion, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 1.33 and a beta of 1.16. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $91.48.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $3.72 billion during the quarter, compared to analysts' expectations of $3.64 billion. Textron had a net margin of 5.80% and a return on equity of 14.26%. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.54 EPS. On average, research analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron's dividend payout ratio is 1.81%.

Insider Activity

In other news, EVP Julie G. Duffy sold 28,543 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $79.37, for a total value of $2,265,457.91. Following the sale, the executive vice president owned 37,624 shares in the company, valued at approximately $2,986,216.88. This represents a 43.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.70% of the company's stock.

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.