Vontobel Holding Ltd. Makes New Investment in Textron Inc. (NYSE:TXT)

Vontobel Holding Ltd. bought a new position in Textron Inc. (NYSE:TXT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,232 shares of the aerospace company's stock, valued at approximately $234,000.

A number of other hedge funds have also added to or reduced their stakes in TXT. Jones Financial Companies Lllp lifted its position in Textron by 72.8% during the fourth quarter. Jones Financial Companies Lllp now owns 3,069 shares of the aerospace company's stock valued at $235,000 after acquiring an additional 1,293 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Textron during the fourth quarter valued at approximately $31,000. Proficio Capital Partners LLC purchased a new position in shares of Textron in the fourth quarter worth $6,512,000. Raymond James Financial Inc. purchased a new position in shares of Textron in the fourth quarter worth $41,451,000. Finally, Candriam S.C.A. purchased a new position in shares of Textron in the fourth quarter worth $472,000. 86.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TXT. Jefferies Financial Group reaffirmed a "buy" rating and issued a $95.00 price target (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. UBS Group raised their price target on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a report on Monday, April 28th. Citigroup decreased their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Morgan Stanley reduced their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen cut shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $88.08.

Textron Stock Performance

TXT traded down $0.21 on Friday, reaching $85.02. The stock had a trading volume of 1,167,443 shares, compared to its average volume of 1,275,854. The business's 50-day moving average price is $76.86 and its two-hundred day moving average price is $74.14. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $94.57. The company has a market cap of $15.35 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17. The company has a current ratio of 1.80, a quick ratio of 0.83 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. Textron had a net margin of 5.98% and a return on equity of 14.77%. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the business earned $1.20 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors 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 dividend on an annualized basis and a yield of 0.09%. Textron's payout ratio is presently 1.81%.

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.