Lincoln Capital Corp Grows Stock Holdings in Textron Inc. (NYSE:TXT)

Lincoln Capital Corp lifted its position in Textron Inc. (NYSE:TXT) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,953 shares of the aerospace company’s stock after buying an additional 469 shares during the period. Textron makes up about 1.4% of Lincoln Capital Corp’s portfolio, making the stock its 22nd largest position. Lincoln Capital Corp’s holdings in Textron were worth $3,257,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of TXT. Adage Capital Partners GP L.L.C. grew its stake in shares of Textron by 93.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,474,191 shares of the aerospace company’s stock worth $115,193,000 after acquiring an additional 713,169 shares during the last quarter. JPMorgan Chase & Co. grew its position in Textron by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,745,108 shares of the aerospace company’s stock worth $448,923,000 after purchasing an additional 596,214 shares during the last quarter. LSV Asset Management increased its stake in Textron by 15.9% during the 4th 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 in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Textron in the fourth quarter worth $394,347,000. Finally, Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Textron during the first quarter worth $45,932,000. Institutional investors own 86.03% of the company’s stock.

Insider Activity

In other news, Director Kathleen M. Bader sold 11,870 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the sale, the director now directly owns 3,756 shares in the company, valued at $330,189.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TXT. Bank of America raised Textron from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $105.00 in a research report on Friday, March 8th. The Goldman Sachs Group raised their price objective on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Susquehanna decreased their target price on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday, April 26th. Citigroup increased their price target on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Finally, StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $99.29.

Textron Stock Performance

TXT stock traded up $0.33 during trading on Friday, hitting $86.67. 107,211 shares of the company traded hands, compared to its average volume of 1,136,234. Textron Inc. has a 1 year low of $66.43 and a 1 year high of $97.33. The company has a market cap of $16.53 billion, a PE ratio of 18.45, a P/E/G ratio of 1.37 and a beta of 1.28. The stock’s 50-day simple moving average is $87.43 and its 200 day simple moving average is $86.90. 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 posted its earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share for the quarter, missing the consensus estimate 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 period last year, the firm earned $1.05 earnings per share. Textron’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 dividend yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s 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.