Pittenger & Anderson Inc. Has $587,000 Stock Position in Textron Inc. (NYSE:TXT)

Pittenger & Anderson Inc. raised its stake in Textron Inc. (NYSE:TXT) by 37.7% during the 4th quarter, Holdings Channel reports. The fund owned 7,300 shares of the aerospace company’s stock after acquiring an additional 2,000 shares during the period. Pittenger & Anderson Inc.’s holdings in Textron were worth $587,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Metis Global Partners LLC lifted its holdings in Textron by 12.8% during the 3rd quarter. Metis Global Partners LLC now owns 10,189 shares of the aerospace company’s stock worth $796,000 after purchasing an additional 1,158 shares during the last quarter. LSV Asset Management boosted its position in shares of Textron by 7.6% in the third quarter. LSV Asset Management now owns 3,271,771 shares of the aerospace company’s stock valued at $255,656,000 after acquiring an additional 230,560 shares during the period. Deutsche Bank AG grew its stake in shares of Textron by 36.9% in the third quarter. Deutsche Bank AG now owns 542,193 shares of the aerospace company’s stock valued at $42,367,000 after acquiring an additional 146,055 shares in the last quarter. AustralianSuper Pty Ltd increased its position in Textron by 13.2% during the fourth quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock worth $7,943,000 after acquiring an additional 11,510 shares during the period. Finally, SG Americas Securities LLC raised its stake in Textron by 269.1% in the 4th quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock worth $1,680,000 after purchasing an additional 15,235 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on TXT shares. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. Citigroup lifted their price objective on Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. The Goldman Sachs Group raised their price objective on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, UBS Group boosted their target price on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.63.

Textron Stock Down 9.7 %

Shares of NYSE TXT traded down $9.11 during mid-day trading on Thursday, reaching $84.90. 5,137,202 shares of the company’s stock traded hands, compared to its average volume of 1,203,012. Textron Inc. has a 1-year low of $61.27 and a 1-year high of $97.33. The stock has a market cap of $16.33 billion, a P/E ratio of 18.58, a PEG ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03. The business has a 50-day simple moving average of $92.11 and a 200 day simple moving average of $83.81.

Textron (NYSE:TXT) last issued its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.97 billion. Textron had a return on equity of 16.05% and a net margin of 6.73%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.07 earnings per share. On average, analysts expect that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s payout ratio is currently 1.75%.

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.