Textron Inc. (NYSE:TXT) Shares Bought by Distillate Capital Partners LLC

Distillate Capital Partners LLC raised its holdings in Textron Inc. (NYSE:TXT - Free Report) by 101,299.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,295 shares of the aerospace company's stock after buying an additional 166,131 shares during the quarter. Distillate Capital Partners LLC owned approximately 0.09% of Textron worth $14,278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Innealta Capital LLC purchased a new position in shares of Textron in the 2nd quarter worth $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Textron in the 2nd quarter valued at about $30,000. Oakworth Capital Inc. acquired a new position in shares of Textron in the 2nd quarter valued at about $31,000. Family Firm Inc. purchased a new stake in shares of Textron during the 2nd quarter worth about $40,000. Finally, Jones Financial Companies Lllp increased its position in Textron by 200.0% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company's stock worth $41,000 after purchasing an additional 338 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Wall Street Analysts Forecast Growth

TXT has been the topic of a number of recent research reports. Morgan Stanley cut Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. Bank of America upped their price objective on shares of Textron from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Citigroup lifted their target price on Textron from $111.00 to $115.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. TD Cowen boosted their price target on Textron from $100.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday, July 19th. Finally, StockNews.com lowered Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Textron presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.50.

Textron Stock Performance

Shares of TXT stock traded down $0.21 on Tuesday, hitting $86.68. 1,097,641 shares of the stock traded hands, compared to its average volume of 1,078,553. The company has a market capitalization of $16.53 billion, a PE ratio of 18.52, a PEG ratio of 1.40 and a beta of 1.23. The company's fifty day moving average is $88.57 and its 200 day moving average is $89.24. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33.

Textron (NYSE:TXT - Get Free Report) last posted its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating the consensus estimate 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 period in the previous year, the business posted $1.46 EPS. The company's quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.02 per share. 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 is currently 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.