Sei Investments Co. Grows Position in Textron Inc. (NYSE:TXT)

Sei Investments Co. lifted its holdings in shares of Textron Inc. (NYSE:TXT) by 0.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,810 shares of the aerospace company’s stock after purchasing an additional 444 shares during the quarter. Sei Investments Co. owned 0.06% of Textron worth $9,428,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TXT. AE Wealth Management LLC increased its holdings in shares of Textron by 15.8% in the 2nd quarter. AE Wealth Management LLC now owns 18,857 shares of the aerospace company’s stock worth $1,619,000 after buying an additional 2,566 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Textron by 4.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock valued at $353,000 after acquiring an additional 175 shares during the last quarter. MQS Management LLC purchased a new stake in Textron during the second quarter valued at about $352,000. XTX Topco Ltd bought a new stake in Textron during the second quarter worth about $1,533,000. Finally, Sienna Gestion purchased a new position in shares of Textron in the 2nd quarter worth about $4,434,000. 86.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and reduced their target price for the company from $103.00 to $95.00 in a report on Wednesday. Morgan Stanley downgraded shares of 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 price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, UBS Group boosted their target price on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research note on Friday, July 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $101.50.

Textron Stock Performance

Textron stock opened at $87.75 on Friday. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. The firm has a market cap of $16.44 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.38 and a beta of 1.23. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33. The firm has a 50-day moving average of $88.26 and a 200-day moving average of $89.15.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. Sell-side analysts expect that Textron Inc. will post 6.26 EPS for the current year.

Textron Dividend Announcement

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

Textron 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.