Family Firm Inc. Takes $40,000 Position in Textron Inc. (NYSE:TXT)

Family Firm Inc. bought a new stake in shares of Textron Inc. (NYSE:TXT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 466 shares of the aerospace company’s stock, valued at approximately $40,000.

A number of other hedge funds have also recently modified their holdings of TXT. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Textron during the 2nd quarter valued at $30,000. Oakworth Capital Inc. bought a new position in Textron in the 2nd quarter worth about $31,000. Jones Financial Companies Lllp boosted its stake in Textron by 200.0% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 338 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Textron by 677.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 474 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in Textron by 90.3% in the 4th quarter. Spire Wealth Management now owns 588 shares of the aerospace company’s stock worth $46,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TXT. Citigroup upped their price target on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. UBS Group upped their price target on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, July 19th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research note on Thursday, August 8th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Finally, TD Cowen upped their target price on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.50.

Textron Stock Performance

Shares of NYSE TXT traded up $1.14 during midday trading on Friday, hitting $89.91. 788,717 shares of the company’s stock traded hands, compared to its average volume of 1,099,080. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The stock has a market capitalization of $17.15 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.40 and a beta of 1.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The firm has a fifty day moving average of $87.95 and a 200 day moving average of $89.09.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts forecast that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s dividend payout ratio is 1.71%.

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.