Axxcess Wealth Management LLC Takes $636,000 Position in Textron Inc. (NYSE:TXT)

Axxcess Wealth Management LLC acquired a new stake in Textron Inc. (NYSE:TXT) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,911 shares of the aerospace company’s stock, valued at approximately $636,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of Textron by 3.4% during the third quarter. Victory Capital Management Inc. now owns 6,756,439 shares of the aerospace company’s stock valued at $527,948,000 after purchasing an additional 220,891 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Textron by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock valued at $448,923,000 after acquiring an additional 596,214 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Textron by 9.7% during the third quarter. Primecap Management Co. CA now owns 5,394,200 shares of the aerospace company’s stock valued at $421,503,000 after purchasing an additional 477,720 shares during the last quarter. LSV Asset Management raised its holdings in shares of Textron by 15.9% during the fourth quarter. LSV Asset Management now owns 3,793,047 shares of the aerospace company’s stock valued at $305,037,000 after purchasing an additional 521,276 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Textron by 4.0% during the third quarter. Northern Trust Corp now owns 1,757,258 shares of the aerospace company’s stock valued at $137,312,000 after purchasing an additional 66,999 shares during the period. 86.03% of the stock is owned by institutional investors.

Textron Price Performance

Shares of NYSE:TXT opened at $87.51 on Wednesday. The company has a market capitalization of $16.69 billion, a P/E 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 firm’s 50 day simple moving average is $92.09 and its two-hundred day simple moving average is $84.30. 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 released its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). Textron had a net margin of 6.75% and a return on equity of 16.30%. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter last year, the firm posted $1.05 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. Research analysts expect that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TXT. UBS Group increased their price target on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a report on Friday, January 26th. Susquehanna lowered their target price on Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, April 26th. Citigroup boosted 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. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and an average target price of $95.63.

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.