Assenagon Asset Management S.A. Grows Stock Holdings in Textron Inc. (NYSE:TXT)

Assenagon Asset Management S.A. raised its holdings in shares of Textron Inc. (NYSE:TXT) by 6.0% during the second quarter, Holdings Channel.com reports. The fund owned 4,822 shares of the aerospace company’s stock after buying an additional 275 shares during the period. Assenagon Asset Management S.A.’s holdings in Textron were worth $414,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TXT. Jones Financial Companies Lllp boosted its position in shares of Textron by 200.0% during the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 338 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Textron by 677.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 474 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Textron by 90.3% during the 4th quarter. Spire Wealth Management now owns 588 shares of the aerospace company’s stock valued at $46,000 after purchasing an additional 279 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Textron during the first quarter valued at about $48,000. Finally, General Partner Inc. bought a new stake in shares of Textron in the first quarter worth about $60,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Trading Up 1.3 %

Shares of TXT opened at $89.91 on Friday. The company’s fifty day simple moving average is $87.95 and its 200-day simple moving average is $89.09. The company has a market cap of $17.15 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.40 and a beta of 1.25. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the prior year, the company posted $1.46 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts expect that Textron Inc. will post 6.27 EPS for the current year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Friday, September 13th. Textron’s payout ratio is currently 1.71%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TXT shares. Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research note on Thursday, August 8th. Citigroup raised their target price on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. UBS Group upped their price target on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research note on Friday, July 19th. Bank of America lifted their price objective on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, TD Cowen upped their target price on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 19th. One research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.50.

About Textron

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.