3Chopt Investment Partners LLC Makes New Investment in Textron Inc. (NYSE:TXT)

3Chopt Investment Partners LLC acquired a new stake in shares of Textron Inc. (NYSE:TXT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,624 shares of the aerospace company’s stock, valued at approximately $483,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Altman Advisors Inc. boosted its position in Textron by 0.6% during the second quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock valued at $1,894,000 after purchasing an additional 129 shares during the last quarter. True Vision MN LLC lifted its position in Textron by 2.5% in the first quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock worth $513,000 after purchasing an additional 133 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Textron by 0.8% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock worth $1,558,000 after acquiring an additional 146 shares during the period. Czech National Bank boosted its holdings in Textron by 0.5% during the first quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock valued at $3,308,000 after purchasing an additional 157 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Textron by 4.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock worth $353,000 after acquiring an additional 175 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on TXT shares. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Citigroup increased their target price on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. UBS Group boosted their price objective on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. Bank of America lifted their price target on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $101.50.

Textron Price Performance

Shares of TXT opened at $87.45 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. The stock has a market cap of $16.38 billion, a PE ratio of 18.69, a PEG ratio of 1.39 and a beta of 1.23. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The business has a 50-day simple moving average of $88.10 and a two-hundred day simple moving average of $89.07.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter last year, the business earned $1.46 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts anticipate that Textron Inc. will post 6.18 earnings per share for the current fiscal year.

Textron Dividend Announcement

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