Hennion & Walsh Asset Management Inc. Has $648,000 Holdings in Textron Inc. (NYSE:TXT)

Hennion & Walsh Asset Management Inc. raised its holdings in Textron Inc. (NYSE:TXT) by 47.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,547 shares of the aerospace company’s stock after buying an additional 2,429 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Textron were worth $648,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC increased its stake in Textron by 18.6% in the fourth quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 122 shares during the period. True Vision MN LLC grew its stake in shares of Textron by 2.5% in the 1st 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 during the period. Czech National Bank raised its holdings in shares of Textron by 0.5% in the 1st quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock worth $3,308,000 after buying an additional 157 shares in the last quarter. Altman Advisors Inc. lifted its position in shares of Textron by 0.8% during the 4th quarter. Altman Advisors Inc. now owns 21,357 shares of the aerospace company’s stock worth $1,718,000 after buying an additional 159 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Textron by 0.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 30,614 shares of the aerospace company’s stock valued at $2,937,000 after purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Trading Down 0.8 %

TXT opened at $87.94 on Wednesday. The firm’s fifty day simple moving average is $87.75 and its 200 day simple moving average is $89.07. Textron Inc. has a 12 month low of $74.13 and a 12 month high of $97.33. The stock has a market capitalization of $16.48 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.40 and a beta of 1.25. 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 quarterly earnings data 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. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. Textron’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share. As a group, research analysts anticipate that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s payout ratio is presently 1.71%.

Analysts Set New Price Targets

Several research firms have recently weighed in on TXT. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a report on Thursday, August 8th. UBS Group lifted their price target on Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. Citigroup increased their price objective on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. TD Cowen boosted their target price on shares of Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.50.

Textron 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.