Axxcess Wealth Management LLC Buys Shares of 7,911 Textron Inc. (NYSE:TXT)

Axxcess Wealth Management LLC purchased a new position in shares of Textron Inc. (NYSE:TXT) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 7,911 shares of the aerospace company’s stock, valued at approximately $636,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cambridge Investment Research Advisors Inc. boosted its position in Textron by 2.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 15,606 shares of the aerospace company’s stock valued at $1,219,000 after buying an additional 331 shares during the period. Raymond James & Associates boosted its holdings in Textron by 15.2% in the third quarter. Raymond James & Associates now owns 197,994 shares of the aerospace company’s stock valued at $15,471,000 after purchasing an additional 26,085 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Textron by 13.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 29,355 shares of the aerospace company’s stock worth $2,294,000 after purchasing an additional 3,503 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Textron by 5.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,631 shares of the aerospace company’s stock worth $2,003,000 after purchasing an additional 1,280 shares during the period. Finally, Advisor Partners II LLC raised its position in Textron by 11.8% in the 3rd quarter. Advisor Partners II LLC now owns 14,676 shares of the aerospace company’s stock valued at $1,147,000 after purchasing an additional 1,551 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

NYSE TXT opened at $87.51 on Wednesday. The company has a fifty day moving average of $92.09 and a two-hundred day moving average of $84.30. The company has a market capitalization of $16.69 billion, a PE ratio of 18.70, a P/E/G ratio of 1.35 and a beta of 1.32. Textron Inc. has a 1 year low of $61.27 and a 1 year high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.81 and a quick ratio of 0.84.

Textron (NYSE:TXT) last posted its earnings results 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 firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 earnings per share. As a group, analysts expect that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Announces Dividend

The firm also recently declared 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 yield of 0.09%. Textron’s dividend payout ratio (DPR) is 1.71%.

Analysts Set New Price Targets

TXT has been the topic of a number of recent research reports. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Susquehanna dropped their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. The Goldman Sachs Group lifted their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Citigroup raised their price target on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, Bank of America raised Textron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $105.00 in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.