Xponance Inc. Acquires 15,248 Shares of Textron Inc. (NYSE:TXT)

Xponance Inc. raised its holdings in Textron Inc. (NYSE:TXT - Free Report) by 29.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 66,856 shares of the aerospace company's stock after buying an additional 15,248 shares during the quarter. Xponance Inc.'s holdings in Textron were worth $5,377,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. CVA Family Office LLC acquired a new stake in Textron during the fourth quarter worth about $29,000. Money Concepts Capital Corp lifted its position in Textron by 109.0% in the fourth quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company's stock worth $31,000 after purchasing an additional 231 shares during the period. CENTRAL TRUST Co boosted its stake in Textron by 100.0% during the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company's stock worth $35,000 after buying an additional 300 shares in the last quarter. Global Retirement Partners LLC increased its holdings in Textron by 393.9% in the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company's stock valued at $37,000 after buying an additional 390 shares during the period. Finally, Trust Co. of Vermont acquired a new position in shares of Textron in the 3rd quarter valued at $37,000. 86.03% of the stock is owned by institutional investors.

Textron Price Performance

TXT traded up $0.72 during trading on Friday, hitting $93.30. The company's stock had a trading volume of 1,272,187 shares, compared to its average volume of 1,008,303. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $17.95 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.47 and a beta of 1.30. The firm's 50 day moving average price is $91.65 and its two-hundred day moving average price is $83.48. Textron Inc. has a 12 month low of $61.27 and a 12 month high of $97.33.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The business had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same period in the previous year, the business posted $1.07 earnings per share. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron's dividend payout ratio (DPR) is currently 1.75%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TXT. The Goldman Sachs Group lifted their target price on shares of Textron from $103.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. StockNews.com upgraded Textron from a "buy" rating to a "strong-buy" rating in a research note on Thursday, January 25th. Citigroup raised their target price on Textron from $104.00 to $111.00 and gave the stock a "buy" rating in a research report on Thursday, April 4th. Bank of America raised Textron from a "neutral" rating to a "buy" rating and boosted their price target for the company from $85.00 to $105.00 in a research note on Friday, March 8th. Finally, UBS Group increased their price objective on Textron from $77.00 to $81.00 and gave the stock a "sell" rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.63.

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.