Hennion & Walsh Asset Management Inc. Buys Shares of 5,118 Textron Inc. (NYSE:TXT)

Hennion & Walsh Asset Management Inc. acquired a new stake in Textron Inc. (NYSE:TXT) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 5,118 shares of the aerospace company’s stock, valued at approximately $491,000.

Other hedge funds have also added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in Textron during the fourth quarter worth $29,000. Trust Co. of Vermont bought a new stake in Textron in the 3rd quarter valued at about $37,000. Morton Brown Family Wealth LLC acquired a new stake in shares of Textron during the 4th quarter worth $40,000. Jones Financial Companies Lllp increased its holdings in Textron by 200.0% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after buying an additional 338 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Textron by 677.1% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock valued at $44,000 after acquiring an additional 474 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Insider Activity at Textron

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total value of $1,043,491.70. Following the sale, the director now directly owns 3,756 shares in the company, valued at approximately $330,189.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TXT. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Citigroup boosted their price objective on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Susquehanna cut their target price on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research note on Friday, April 26th. The Goldman Sachs Group raised their price objective on Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $85.00 to $105.00 in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and an average target price of $99.29.

Textron Stock Up 0.5 %

Shares of NYSE:TXT opened at $85.78 on Wednesday. Textron Inc. has a 1 year low of $66.43 and a 1 year high of $97.33. The company has a market capitalization of $16.36 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.36 and a beta of 1.25. The business has a fifty day moving average price of $86.93 and a two-hundred day moving average price of $87.17. 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 issued its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS 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 period in the prior year, the company earned $1.05 EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Analysts forecast that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s dividend payout ratio (DPR) 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.