Wolf Group Capital Advisors lifted its position in shares of Textron Inc. (NYSE:TXT – Get Rating) by 0.9% during the 2nd quarter, Holdings Channel reports. The firm owned 25,935 shares of the aerospace company's stock after purchasing an additional 226 shares during the quarter. Wolf Group Capital Advisors' holdings in Textron were worth $1,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the company. Wetherby Asset Management Inc. lifted its stake in Textron by 5.4% in the 4th quarter. Wetherby Asset Management Inc. now owns 3,013 shares of the aerospace company's stock valued at $233,000 after purchasing an additional 155 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Textron by 0.7% in the first quarter. Yousif Capital Management LLC now owns 26,689 shares of the aerospace company's stock valued at $1,985,000 after buying an additional 175 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Textron by 1.0% in the first quarter. Fifth Third Bancorp now owns 19,437 shares of the aerospace company's stock valued at $1,446,000 after buying an additional 185 shares in the last quarter. Allworth Financial LP lifted its position in shares of Textron by 53.0% during the second quarter. Allworth Financial LP now owns 560 shares of the aerospace company's stock valued at $34,000 after purchasing an additional 194 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Textron by 1.0% during the first quarter. CIBC Asset Management Inc now owns 21,173 shares of the aerospace company's stock valued at $1,575,000 after purchasing an additional 213 shares in the last quarter. 87.80% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Upgrades and Downgrades
TXT has been the subject of a number of research analyst reports. Cfra raised their price objective on shares of Textron to $73.00 in a report on Tuesday, August 9th. Bank of America dropped their target price on shares of Textron from $74.00 to $70.00 and set a "neutral" rating for the company in a research report on Thursday, July 28th. Cowen set a $86.00 price objective on shares of Textron in a report on Tuesday, July 19th. Susquehanna Bancshares lowered their price objective on shares of Textron from $90.00 to $84.00 and set a "positive" rating for the company in a report on Friday, July 29th. Finally, Sanford C. Bernstein started coverage on shares of Textron in a research report on Tuesday, September 13th. They set a "market perform" rating for the company. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $81.33.
Textron Price Performance
TXT traded up $1.72 during trading hours on Wednesday, hitting $60.61. The company's stock had a trading volume of 74,136 shares, compared to its average volume of 1,251,459. The business's 50-day moving average price is $64.32 and its 200-day moving average price is $65.60. Textron Inc. has a 12 month low of $57.11 and a 12 month high of $79.45. The stock has a market cap of $12.82 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 1.18 and a beta of 1.55. The company has a current ratio of 2.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.52.
Textron (NYSE:TXT – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The aerospace company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.88 by $0.12. The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.22 billion. Textron had a net margin of 6.43% and a return on equity of 12.25%. Textron's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.81 earnings per share. Sell-side analysts expect that Textron Inc. will post 3.96 earnings per share for the current fiscal year.
Textron Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date is Thursday, September 8th. Textron's dividend payout ratio (DPR) is presently 2.20%.
About Textron
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Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company's 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.
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