Textron Inc. (NYSE:TXT) Shares Acquired by LSV Asset Management

LSV Asset Management increased its holdings in Textron Inc. (NYSE:TXT) by 15.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,793,047 shares of the aerospace company’s stock after acquiring an additional 521,276 shares during the quarter. LSV Asset Management’s holdings in Textron were worth $305,037,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TXT. CVA Family Office LLC acquired a new position in Textron in the fourth quarter valued at $29,000. Trust Co. of Vermont purchased a new stake in Textron during the 3rd quarter valued at approximately $37,000. Morton Brown Family Wealth LLC purchased a new stake in Textron during the 4th quarter valued at approximately $40,000. Provence Wealth Management Group acquired a new stake in Textron during the 3rd quarter worth approximately $39,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Textron by 677.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock valued at $44,000 after purchasing an additional 474 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

TXT traded up $0.22 on Friday, hitting $85.59. 1,388,861 shares of the company were exchanged, compared to its average volume of 1,389,966. The business’s fifty day moving average is $92.10 and its 200 day moving average is $84.12. The firm has a market capitalization of $16.32 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.35 and a beta of 1.32. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.84 and a current ratio of 1.81. Textron Inc. has a fifty-two week low of $61.27 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.08). The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 earnings per share. As a group, sell-side analysts anticipate that Textron Inc. will post 6.27 EPS for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is presently 1.71%.

Analysts Set New Price Targets

TXT has been the subject of several recent research reports. The Goldman Sachs Group increased their price target on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. Susquehanna reduced their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Finally, Citigroup boosted 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. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.63.

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.