Moran Wealth Management LLC acquired a new position in shares of Textron Inc. (NYSE:TXT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 105,100 shares of the aerospace company's stock, valued at approximately $7,593,000. Moran Wealth Management LLC owned 0.06% of Textron at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of TXT. Blackhawk Capital Partners LLC. raised its position in shares of Textron by 41.9% in the fourth quarter. Blackhawk Capital Partners LLC. now owns 3,263 shares of the aerospace company's stock valued at $250,000 after buying an additional 963 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Textron by 7.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company's stock worth $109,257,000 after purchasing an additional 104,982 shares in the last quarter. Todd Asset Management LLC increased its position in shares of Textron by 1.8% in the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company's stock worth $35,973,000 after purchasing an additional 8,198 shares during the period. Oppenheimer & Co. Inc. lifted its position in Textron by 438.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 21,698 shares of the aerospace company's stock worth $1,660,000 after purchasing an additional 17,672 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Textron in the 4th quarter valued at about $6,512,000. Institutional investors and hedge funds own 86.03% of the company's stock.
Analyst Upgrades and Downgrades
TXT has been the subject of several research analyst reports. Citigroup lowered 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. 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 report on Friday, April 11th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $95.00 price objective (up from $85.00) on shares of Textron in a research note on Thursday, June 12th. Finally, 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 report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $88.36.
Read Our Latest Stock Report on TXT
Textron Trading Up 0.7%
Shares of Textron stock traded up $0.55 during trading on Wednesday, hitting $79.31. The company's stock had a trading volume of 1,486,626 shares, compared to its average volume of 1,251,403. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 1.26 and a beta of 1.16. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $94.57. The stock has a 50-day moving average price of $73.19 and a two-hundred day moving average price of $73.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83.
Textron (NYSE:TXT - Get Free Report) last released its quarterly 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 analyst estimates of $3.26 billion. During the same quarter in the previous year, the company posted $1.20 EPS. The business's revenue was up 5.5% on a year-over-year basis. Equities research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.
Textron Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron's dividend payout ratio (DPR) is currently 1.81%.
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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