Exchange Traded Concepts LLC Purchases 2,366 Shares of Textron Inc. (NYSE:TXT)

Exchange Traded Concepts LLC increased its position in shares of Textron Inc. (NYSE:TXT) by 2,211.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,473 shares of the aerospace company’s stock after buying an additional 2,366 shares during the period. Exchange Traded Concepts LLC’s holdings in Textron were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Davis Investment Partners LLC raised its stake in Textron by 0.8% during the third quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock worth $1,290,000 after buying an additional 118 shares during the last quarter. Altman Advisors Inc. increased its stake in Textron by 0.6% in the second quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock valued at $1,894,000 after purchasing an additional 129 shares in the last quarter. True Vision MN LLC increased its stake in Textron by 2.5% in the first quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock valued at $513,000 after purchasing an additional 133 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Textron by 0.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock valued at $1,558,000 after purchasing an additional 146 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake 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 in the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Down 0.7 %

Textron stock opened at $89.39 on Tuesday. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The stock has a market cap of $16.75 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 1.47 and a beta of 1.23. The firm’s 50-day simple moving average is $87.80 and its 200 day simple moving average is $88.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid 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 was Friday, September 13th. Textron’s payout ratio is 1.69%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TXT. Citigroup lifted their price target on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. UBS Group lifted their price target on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research note on Friday, July 19th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $102.75.

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.