Textron Inc. (NYSE:TXT) Stock Position Raised by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. grew its holdings in Textron Inc. (NYSE:TXT) by 37.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,300 shares of the aerospace company’s stock after acquiring an additional 2,000 shares during the period. Pittenger & Anderson Inc.’s holdings in Textron were worth $587,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TXT. CVA Family Office LLC acquired a new stake in shares of Textron in the fourth quarter worth $29,000. Global Retirement Partners LLC lifted its position in Textron by 393.9% during 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 bought a new stake in Textron during the third quarter valued at about $37,000. Provence Wealth Management Group acquired a new stake in shares of Textron in the third quarter valued at about $39,000. Finally, Morton Brown Family Wealth LLC bought a new position in shares of Textron in the fourth quarter worth about $40,000. Institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Shares of Textron stock traded down $9.11 during mid-day trading on Thursday, reaching $84.90. 5,137,202 shares of the stock were exchanged, compared to its average volume of 1,203,012. The company has a market cap of $16.33 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. Textron Inc. has a fifty-two week low of $61.27 and a fifty-two week high of $97.33. The company has a current ratio of 1.92, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The firm has a 50-day simple moving average of $92.11 and a 200 day simple moving average of $83.81.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period last year, the firm posted $1.07 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts predict that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is 1.75%.

Analysts Set New Price Targets

Several brokerages have commented on TXT. The Goldman Sachs Group lifted 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. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Citigroup upped their price target on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $105.00 in a research note on Friday, March 8th. Finally, UBS Group upped their target price on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Textron has an average rating of “Moderate Buy” and a consensus target price of $93.63.

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.