Textron Inc. (NYSE:TXT) Position Boosted by Distillate Capital Partners LLC

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

Other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in shares of Textron by 1.4% during the second quarter. Bank of Montreal Can now owns 189,843 shares of the aerospace company’s stock valued at $16,461,000 after purchasing an additional 2,531 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Textron by 58.9% in the second quarter. Public Sector Pension Investment Board now owns 7,094 shares of the aerospace company’s stock valued at $609,000 after acquiring an additional 2,629 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Textron by 1.5% during the second quarter. ProShare Advisors LLC now owns 40,641 shares of the aerospace company’s stock valued at $3,489,000 after acquiring an additional 600 shares during the period. Symmetry Investments LP acquired a new stake in Textron in the second quarter worth approximately $385,000. Finally, Ensign Peak Advisors Inc boosted its stake in Textron by 18.4% during the 2nd quarter. Ensign Peak Advisors Inc now owns 223,665 shares of the aerospace company’s stock valued at $19,204,000 after purchasing an additional 34,705 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. TD Cowen boosted their price objective on Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research report on Thursday, August 8th. Bank of America raised 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. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, UBS Group lifted their price target on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.50.

Textron Price Performance

Shares of TXT opened at $86.89 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. The company has a market capitalization of $16.57 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 1.40 and a beta of 1.23. The business’s 50-day moving average is $88.72 and its 200-day moving average is $89.28. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last released its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts expect that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.02 dividend. 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 (DPR) is currently 1.71%.

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.