ProShare Advisors LLC Purchases 600 Shares of Textron Inc. (NYSE:TXT)

ProShare Advisors LLC lifted its position in shares of Textron Inc. (NYSE:TXT) by 1.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,641 shares of the aerospace company’s stock after purchasing an additional 600 shares during the quarter. ProShare Advisors LLC’s holdings in Textron were worth $3,489,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Textron by 263.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock valued at $1,283,000 after buying an additional 9,692 shares in the last quarter. Studio Investment Management LLC bought a new position in Textron in the 4th quarter valued at about $1,223,000. SG Americas Securities LLC boosted its stake in Textron by 461.1% during the 1st quarter. SG Americas Securities LLC now owns 117,257 shares of the aerospace company’s stock valued at $11,248,000 after purchasing an additional 96,361 shares during the last quarter. LSV Asset Management increased its holdings in Textron by 6.9% during the 1st quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock worth $388,809,000 after purchasing an additional 260,003 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Textron by 579.5% in the first quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock worth $4,862,000 after purchasing an additional 43,225 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TXT. UBS Group lifted their target price on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research note on Thursday, August 8th. Citigroup raised their price target on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Bank of America upped their price objective on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and dropped their target price for the stock from $103.00 to $95.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Textron currently has an average rating of “Hold” and an average target price of $101.50.

Textron Stock Performance

Shares of TXT stock opened at $86.53 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The firm has a market cap of $16.21 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 1.38 and a beta of 1.23. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The firm’s 50-day simple moving average is $88.32 and its two-hundred day simple moving average is $89.20.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. Textron’s revenue was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that Textron Inc. will post 6.26 earnings per share for the current year.

Textron Announces Dividend

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

Textron 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.