First Trust Direct Indexing L.P. Makes New Investment in Textron Inc. (NYSE:TXT)

First Trust Direct Indexing L.P. acquired a new position in Textron Inc. (NYSE:TXTFree Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,087 shares of the aerospace company’s stock, valued at approximately $200,000.

A number of other large investors have also added to or reduced their stakes in TXT. LSV Asset Management increased its stake in Textron by 15.9% in the 4th quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock worth $305,037,000 after acquiring an additional 521,276 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Textron in the 4th quarter worth approximately $394,347,000. Ferguson Wellman Capital Management Inc. bought a new position in shares of Textron during the 1st quarter valued at approximately $45,932,000. Brandes Investment Partners LP increased its position in shares of 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 purchasing an additional 408,290 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Textron by 77.7% during the 4th quarter. Hsbc Holdings PLC now owns 563,031 shares of the aerospace company’s stock valued at $45,285,000 after purchasing an additional 246,185 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Price Performance

TXT opened at $85.14 on Wednesday. The business has a fifty day moving average of $86.77 and a 200 day moving average of $87.37. Textron Inc. has a 52-week low of $67.01 and a 52-week high of $97.33. The company has a quick ratio of 0.84, a current ratio of 1.81 and a debt-to-equity ratio of 0.46. The stock has a market cap of $16.24 billion, a P/E ratio of 18.19, a PEG ratio of 1.35 and a beta of 1.25.

Textron (NYSE:TXTGet Free Report) last issued 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). Textron had a return on equity of 16.30% and a net margin of 6.75%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. Textron’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Textron Inc. will post 6.27 EPS for the current year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Friday, June 14th. Textron’s dividend payout ratio is 1.71%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Susquehanna cut their target price on 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 boosted their target price on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Citigroup boosted their target price on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Textron has a consensus rating of “Moderate Buy” and a consensus target price of $99.29.

Check Out Our Latest Analysis on Textron

Insiders Place Their Bets

In related news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the sale, the director now directly owns 3,756 shares in the company, valued at approximately $330,189.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

Textron Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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