Syon Capital LLC Grows Stock Holdings in Textron Inc. (NYSE:TXT)

Syon Capital LLC raised its stake in Textron Inc. (NYSE:TXT) by 27.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,375 shares of the aerospace company’s stock after purchasing an additional 736 shares during the quarter. Syon Capital LLC’s holdings in Textron were worth $271,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TXT. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Textron by 93.7% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock valued at $115,193,000 after purchasing an additional 713,169 shares during the last quarter. Swiss National Bank acquired a new position in shares of Textron in the 3rd quarter valued at $50,696,000. JPMorgan Chase & Co. boosted its holdings in shares of Textron by 11.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock valued at $448,923,000 after purchasing an additional 596,214 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Textron in the 4th quarter valued at $394,347,000. Finally, Primecap Management Co. CA boosted its holdings in shares of Textron by 9.7% in the 3rd 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. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TXT shares. Citigroup lifted their target price on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Friday. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $105.00 in a report on Friday, March 8th. The Goldman Sachs Group lifted their price target on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, UBS Group lifted their price target on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.63.

Textron Trading Up 1.9 %

Textron stock opened at $86.51 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $92.10 and a two-hundred day moving average price of $83.90. The firm has a market capitalization of $16.64 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.36 and a beta of 1.30. Textron Inc. has a 52-week low of $61.27 and a 52-week high of $97.33.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 earnings per share. Sell-side analysts expect that Textron Inc. will post 6.29 earnings per share for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s dividend payout ratio is currently 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.