Vontobel Holding Ltd. Invests $234,000 in Textron Inc. (NYSE:TXT)

Vontobel Holding Ltd. bought a new stake in Textron Inc. (NYSE:TXT - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,232 shares of the aerospace company's stock, valued at approximately $234,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Syon Capital LLC lifted its position in Textron by 4.5% in the 4th quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock valued at $271,000 after purchasing an additional 153 shares during the last quarter. Motley Fool Asset Management LLC lifted its position in shares of Textron by 6.3% during the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock worth $209,000 after buying an additional 163 shares during the period. Farther Finance Advisors LLC boosted its position in Textron by 10.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,881 shares of the aerospace company's stock valued at $144,000 after buying an additional 175 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Textron by 7.4% during the first quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the aerospace company's stock worth $207,000 after purchasing an additional 197 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Textron by 22.9% in the first quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock valued at $81,000 after acquiring an additional 208 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on TXT. Morgan Stanley cut their target price on Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group reiterated a "buy" rating and set a $95.00 target price (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. UBS Group upped their price objective on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research note on Monday, April 28th. Wall Street Zen cut Textron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Citigroup reduced their price target 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Textron presently has an average rating of "Hold" and an average target price of $88.08.

Textron Trading Up 3.3%

Shares of TXT traded up $2.74 during midday trading on Thursday, reaching $85.21. The company had a trading volume of 2,200,988 shares, compared to its average volume of 1,273,440. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $94.57. The stock has a market cap of $15.38 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 1.34 and a beta of 1.17. The firm has a 50 day simple moving average of $76.58 and a 200-day simple moving average of $74.11. The company has a quick ratio of 0.83, a current ratio of 1.80 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping 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 business had revenue of $3.31 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business's revenue was up 5.5% compared to the same quarter last year. Research analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

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

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.