Ensign Peak Advisors Inc Increases Holdings in Textron Inc. (NYSE:TXT)

Ensign Peak Advisors Inc grew its stake in Textron Inc. (NYSE:TXT) by 18.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 223,665 shares of the aerospace company’s stock after acquiring an additional 34,705 shares during the quarter. Ensign Peak Advisors Inc owned about 0.12% of Textron worth $19,204,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TXT. Altman Advisors Inc. raised its holdings in Textron by 0.6% in the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock valued at $1,894,000 after buying an additional 129 shares during the period. True Vision MN LLC boosted its position in shares of Textron by 2.5% during the 1st 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 boosted its position 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 purchasing an additional 146 shares during the period. Czech National Bank increased its holdings in Textron by 0.5% in the 1st 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 during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Textron by 4.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,116 shares of the aerospace company’s stock valued at $353,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Trading Down 1.2 %

Shares of NYSE:TXT opened at $86.89 on Tuesday. The company has a market cap of $16.57 billion, a PE ratio of 18.57, a P/E/G ratio of 1.40 and a beta of 1.23. The company’s 50 day moving average is $88.72 and its two-hundred day moving average is $89.28. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47.

Textron (NYSE:TXT) last posted its 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. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. Textron’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. Equities analysts predict that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Friday, September 13th. Textron’s dividend payout ratio (DPR) is 1.71%.

Wall Street Analysts Forecast Growth

TXT has been the subject of a number of research reports. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research note on Thursday, August 8th. Bank of America boosted their price target on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Citigroup upped their target price on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, UBS Group raised their price target on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.50.

About Textron

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.