Vontobel Holding Ltd. Acquires New Position in Textron Inc. (NYSE:TXT)

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of Textron by 72.8% in 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 in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Textron during the fourth quarter worth about $31,000. Proficio Capital Partners LLC acquired a new stake in shares of Textron in the 4th quarter valued at approximately $6,512,000. Raymond James Financial Inc. bought a new position in Textron in the 4th quarter valued at approximately $41,451,000. Finally, Candriam S.C.A. bought a new position in Textron in the 4th quarter valued at approximately $472,000. 86.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a "neutral" rating and issued a $85.00 price objective (down previously 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 report on Saturday, July 5th. Citigroup decreased their target price on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, April 10th. UBS Group increased their price objective on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a report on Monday, April 28th. Finally, Morgan Stanley dropped their price objective 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $88.08.

Textron Stock Down 0.2%

Shares of TXT stock traded down $0.21 during mid-day trading on Friday, hitting $85.02. The stock had a trading volume of 1,167,443 shares, compared to its average volume of 1,274,470. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $94.57. The firm has a market capitalization 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 firm's 50-day moving average is $76.86 and its two-hundred day moving average is $74.16. 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, 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 firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company posted $1.20 EPS. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, analysts predict that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a $0.02 dividend. 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 (DPR) is 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.