Lincoln Capital Corp decreased its holdings in Textron Inc. (NYSE:TXT) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,049 shares of the aerospace company’s stock after selling 1,690 shares during the quarter. Textron accounts for approximately 2.3% of Lincoln Capital Corp’s holdings, making the stock its 16th biggest holding. Lincoln Capital Corp’s holdings in Textron were worth $2,744,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in TXT. Parallel Advisors LLC grew its holdings in shares of Textron by 73.1% in the 2nd quarter. Parallel Advisors LLC now owns 509 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 215 shares during the last quarter. NEXT Financial Group Inc bought a new stake in shares of Textron in the 2nd quarter worth about $32,000. HM Payson & Co. bought a new stake in shares of Textron in the 2nd quarter worth about $34,000. Trust Co. of Vermont bought a new stake in shares of Textron in the 2nd quarter worth about $42,000. Finally, CSat Investment Advisory L.P. grew its holdings in shares of Textron by 87.3% in the 2nd quarter. CSat Investment Advisory L.P. now owns 884 shares of the aerospace company’s stock worth $47,000 after purchasing an additional 412 shares during the last quarter. Institutional investors own 82.98% of the company’s stock.
A number of equities research analysts have commented on TXT shares. Cowen reissued a “buy” rating and set a $60.00 price objective on shares of Textron in a report on Thursday, October 17th. Credit Suisse Group decreased their price objective on shares of Textron from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, October 18th. Vertical Research lowered shares of Textron from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $56.00 to $54.00 in a report on Friday, September 27th. Morgan Stanley increased their price objective on shares of Textron from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Zacks Investment Research lowered shares of Textron from a “hold” rating to a “strong sell” rating and set a $50.00 price objective on the stock. in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $54.25.
NYSE:TXT traded down $0.52 during mid-day trading on Friday, reaching $46.61. 1,263,878 shares of the company were exchanged, compared to its average volume of 1,609,286. Textron Inc. has a 12 month low of $42.30 and a 12 month high of $58.00. The company has a fifty day moving average of $48.05 and a 200 day moving average of $49.02. The company has a quick ratio of 0.97, a current ratio of 2.15 and a debt-to-equity ratio of 0.66. The stock has a market cap of $10.80 billion, a PE ratio of 13.96, a PEG ratio of 1.39 and a beta of 1.73.
Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 17th. The aerospace company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.10. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.31 billion. Textron had a net margin of 6.46% and a return on equity of 16.88%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 EPS. On average, equities research analysts anticipate that Textron Inc. will post 3.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Thursday, December 12th. Textron’s dividend payout ratio (DPR) is presently 2.40%.
Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.
Further Reading: How is an ETF different from a mutual fund?
Want to see what other hedge funds are holding TXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Textron Inc. (NYSE:TXT).
Receive News & Ratings for Textron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron and related companies with MarketBeat.com's FREE daily email newsletter.