IFM Investors Pty Ltd Grows Stock Holdings in Textron Inc. (NYSE:TXT)

IFM Investors Pty Ltd increased its position in Textron Inc. (NYSE:TXT) by 38.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,012 shares of the aerospace company’s stock after acquiring an additional 6,718 shares during the period. IFM Investors Pty Ltd’s holdings in Textron were worth $1,735,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TXT. SBI Securities Co. Ltd. bought a new stake in shares of Textron during the 4th quarter valued at $31,000. Optiver Holding B.V. bought a new stake in shares of Textron during the 4th quarter valued at $56,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Textron by 123.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company’s stock valued at $61,000 after acquiring an additional 465 shares during the period. Parallel Advisors LLC grew its position in shares of Textron by 22.9% during the 1st quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company’s stock valued at $81,000 after acquiring an additional 208 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in shares of Textron during the 1st quarter valued at $92,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Up 1.0%

Shares of NYSE TXT opened at $82.18 on Wednesday. The firm’s 50-day moving average price is $76.04 and its 200-day moving average price is $73.99. The company has a current ratio of 1.80, a quick ratio of 0.83 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $14.84 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 1.33 and a beta of 1.17. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $94.57.

Textron (NYSE:TXT) last announced its earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. Textron had a net margin of 5.98% and a return on equity of 14.77%. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the company earned $1.20 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Friday, June 13th. Textron’s dividend payout ratio (DPR) is currently 1.81%.

Analysts Set New Price Targets

Several research analysts recently weighed in on TXT shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $95.00 target price (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. UBS Group upped their target price on shares of Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a report on Monday, April 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $85.00 target price (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Citigroup dropped their target price on shares of Textron from $111.00 to $107.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Morgan Stanley dropped their target price on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Textron currently has a consensus rating of “Hold” and a consensus target price of $88.08.

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.