Delphi Management Inc. MA Raises Stock Holdings in Textron Inc. (NYSE:TXT)

Delphi Management Inc. MA increased its stake in shares of Textron Inc. (NYSE:TXT) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,012 shares of the aerospace company’s stock after purchasing an additional 402 shares during the quarter. Delphi Management Inc. MA’s holdings in Textron were worth $1,632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Textron during the second quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Textron in the 2nd quarter worth approximately $30,000. Oakworth Capital Inc. acquired a new position in Textron in the 2nd quarter valued at $31,000. Family Firm Inc. purchased a new position in shares of Textron during the 2nd quarter worth $40,000. Finally, Jones Financial Companies Lllp boosted its holdings 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 purchasing an additional 338 shares during the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TXT. Citigroup upped their target price on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. UBS Group upped their price objective 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. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research report on Thursday, August 8th. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and dropped their price target for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Finally, Bank of America increased their price target 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Textron currently has a consensus rating of “Hold” and an average price target of $101.50.

Textron Price Performance

TXT opened at $88.56 on Tuesday. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The company has a 50 day moving average of $88.20 and a two-hundred day moving average of $89.11. The company has a market cap of $16.59 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.39 and a beta of 1.23. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47.

Textron (NYSE:TXT) last announced its quarterly earnings results 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 firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the prior year, the company earned $1.46 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. On average, analysts expect that Textron Inc. will post 6.18 earnings per share for the current year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $0.02 dividend. The ex-dividend date is Friday, September 13th. 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%.

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.