Penserra Capital Management LLC Has $328,000 Stock Holdings in Textron Inc. (NYSE:TXT)

Penserra Capital Management LLC raised its stake in Textron Inc. (NYSE:TXT - Free Report) by 865.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,546 shares of the aerospace company's stock after buying an additional 4,075 shares during the quarter. Penserra Capital Management LLC's holdings in Textron were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Optiver Holding B.V. acquired a new stake in shares of Textron during the fourth quarter worth about $56,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Textron by 123.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock worth $61,000 after purchasing an additional 465 shares during the period. Parallel Advisors LLC raised its position in shares of Textron by 22.9% during the first quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock worth $81,000 after purchasing an additional 208 shares during the period. ORG Wealth Partners LLC acquired a new stake in shares of Textron during the first quarter worth about $92,000. Finally, Transce3nd LLC acquired a new stake in shares of Textron during the fourth quarter worth about $108,000. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Stock Down 0.2%

TXT stock traded down $0.21 during mid-day trading on Friday, reaching $85.02. The company had a trading volume of 1,167,443 shares, compared to its average volume of 1,274,470. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83. The stock has a 50 day simple moving average of $76.86 and a two-hundred day simple moving average of $74.16. The company has a market capitalization of $15.35 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.39 and a beta of 1.17. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $94.57.

Textron (NYSE:TXT - Get Free Report) last issued its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.17 by $0.11. Textron had a return on equity of 14.77% and a net margin of 5.98%. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the previous year, the company posted $1.20 EPS. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron's dividend payout ratio is currently 1.81%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TXT shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $85.00 price target (down previously from $95.00) on shares of Textron in a research report on Tuesday, July 1st. Morgan Stanley dropped their target price on Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Citigroup dropped their target price on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Jefferies Financial Group reissued 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. Finally, UBS Group lifted their target price on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $88.08.

About Textron

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.