Textron Inc. (NYSE:TXT) Stake Lifted by Burney Co.

Burney Co. raised its stake in Textron Inc. (NYSE:TXT) by 14.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 12,325 shares of the aerospace company’s stock after buying an additional 1,581 shares during the quarter. Burney Co.’s holdings in Textron were worth $1,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wedge Capital Management L L P NC bought a new position in shares of Textron in the second quarter worth $64,319,000. LSV Asset Management grew its position in Textron by 15.9% in the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock valued at $305,037,000 after buying an additional 521,276 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new position in Textron in the 1st quarter valued at about $45,932,000. Brandes Investment Partners LP increased its stake in Textron by 49.3% during the 4th quarter. Brandes Investment Partners LP now owns 1,235,966 shares of the aerospace company’s stock valued at $99,396,000 after buying an additional 408,290 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Textron by 1,611.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock worth $41,547,000 after buying an additional 407,800 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on TXT shares. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. Citigroup lifted their price target on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. TD Cowen upped their price objective on Textron from $100.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 19th. Bank of America raised their target price on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, UBS Group boosted their price target on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Textron currently has an average rating of “Moderate Buy” and a consensus target price of $102.50.

Textron Trading Down 0.0 %

Shares of NYSE TXT traded down $0.02 during mid-day trading on Friday, hitting $90.18. 9,507 shares of the company traded hands, compared to its average volume of 1,078,152. The business has a 50 day moving average of $88.26 and a two-hundred day moving average of $89.17. The stock has a market capitalization of $16.90 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 1.43 and a beta of 1.25. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47.

Textron (NYSE:TXT) last announced its earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, topping 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 company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same period last year, the company posted $1.46 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, sell-side analysts anticipate that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.02 per share. 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 (DPR) is currently 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.