Caprock Group LLC Acquires Shares of 7,049 Textron Inc. (NYSE:TXT)

Caprock Group LLC bought a new position in shares of Textron Inc. (NYSE:TXT) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,049 shares of the aerospace company’s stock, valued at approximately $605,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC increased its stake in Textron by 566.8% during the 2nd quarter. Acadian Asset Management LLC now owns 35,252 shares of the aerospace company’s stock worth $3,025,000 after acquiring an additional 29,965 shares during the period. Savant Capital LLC grew its holdings in shares of Textron by 6.2% during the 2nd quarter. Savant Capital LLC now owns 11,840 shares of the aerospace company’s stock worth $1,017,000 after purchasing an additional 694 shares in the last quarter. National Bank of Canada FI increased its position in shares of Textron by 20.3% in the second quarter. National Bank of Canada FI now owns 55,450 shares of the aerospace company’s stock worth $4,733,000 after purchasing an additional 9,356 shares during the period. TD Asset Management Inc raised its stake in Textron by 3.2% in the second quarter. TD Asset Management Inc now owns 1,087,342 shares of the aerospace company’s stock valued at $93,359,000 after purchasing an additional 33,394 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its position in Textron by 7.9% during the second quarter. Foundations Investment Advisors LLC now owns 3,382 shares of the aerospace company’s stock worth $290,000 after purchasing an additional 249 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TXT shares. TD Cowen raised their target price on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 19th. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research report on Thursday, August 8th. Bank of America upped their target price on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Citigroup lifted their price target on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, UBS Group boosted their price target on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.50.

Textron Stock Down 0.1 %

Shares of TXT opened at $86.44 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The stock has a market capitalization of $16.48 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 1.36 and a beta of 1.23. The stock has a fifty day moving average of $88.59 and a 200-day moving average of $89.34.

Textron (NYSE:TXT) last issued its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s payout ratio is 1.71%.

Textron Company Profile

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.