Syon Capital LLC Raises Position in Textron Inc. (NYSE:TXT)

Syon Capital LLC increased its position in Textron Inc. (NYSE:TXT) by 27.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,375 shares of the aerospace company’s stock after acquiring an additional 736 shares during the period. Syon Capital LLC’s holdings in Textron were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TXT. CVA Family Office LLC purchased a new position in Textron in the 4th quarter worth $29,000. Global Retirement Partners LLC raised its stake in Textron by 393.9% in the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock worth $37,000 after acquiring an additional 390 shares during the last quarter. Trust Co. of Vermont purchased a new position in Textron in the 3rd quarter worth $37,000. Provence Wealth Management Group acquired a new stake in Textron during the 3rd quarter worth about $39,000. Finally, Morton Brown Family Wealth LLC acquired a new stake in Textron during the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Trading Up 1.9 %

TXT stock opened at $86.51 on Friday. The stock has a market cap of $16.64 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.36 and a beta of 1.30. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average is $92.10 and its 200 day moving average is $83.90. Textron Inc. has a 12-month low of $61.27 and a 12-month high of $97.33.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.08). The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. On average, sell-side analysts anticipate that Textron Inc. will post 6.29 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.71%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TXT. The Goldman Sachs Group increased their price target on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Susquehanna cut their price target on Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday. Bank of America raised Textron from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. UBS Group increased their price target on Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Finally, Citigroup increased their price target on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.63.

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.