Textron Inc. (NYSE:TXT) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its holdings in shares of Textron Inc. (NYSE:TXT) by 7.4% in the first quarter, HoldingsChannel.com reports. The fund owned 2,869 shares of the aerospace company’s stock after buying an additional 197 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Textron were worth $207,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in Textron during the fourth quarter worth approximately $31,000. Optiver Holding B.V. purchased a new position in shares of Textron in the 4th quarter worth $56,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Textron by 123.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company’s stock valued at $61,000 after acquiring an additional 465 shares during the last quarter. Parallel Advisors LLC grew its position in Textron by 22.9% during 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 period. Finally, Transce3nd LLC purchased a new stake in Textron during the fourth quarter valued at about $108,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Shares of TXT opened at $77.56 on Tuesday. The company has a market capitalization of $14.00 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 1.25 and a beta of 1.16. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $94.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83. The business has a 50-day moving average of $72.92 and a 200-day moving average of $73.87.

Textron (NYSE:TXT) last issued its quarterly earnings data 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 firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company posted $1.20 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Friday, June 13th. Textron’s payout ratio is 1.81%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TXT shares. Citigroup decreased 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. UBS Group upped their price target on Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a report on Monday, April 28th. TD Cowen raised Textron to a “hold” rating in a research report on Monday, February 24th. Morgan Stanley dropped their price objective on Textron from $82.00 to $71.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $95.00 target price (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.36.

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.