Textron Inc. (NYSE:TXT) Shares Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC increased its stake in Textron Inc. (NYSE:TXT) by 37.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,871 shares of the aerospace company’s stock after acquiring an additional 2,960 shares during the period. Axxcess Wealth Management LLC’s holdings in Textron were worth $1,043,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. raised its position in Textron by 263.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock valued at $1,283,000 after purchasing an additional 9,692 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in Textron in the fourth quarter valued at approximately $922,000. Studio Investment Management LLC purchased a new position in Textron in the fourth quarter worth approximately $1,223,000. Charles Schwab Investment Management Inc. grew its holdings in Textron by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,692,173 shares of the aerospace company’s stock worth $136,085,000 after acquiring an additional 19,769 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Textron by 269.1% during the 4th quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock worth $1,680,000 after acquiring an additional 15,235 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Textron

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the transaction, the director now directly owns 3,756 shares in the company, valued at approximately $330,189.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TXT has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. UBS Group upped their price objective on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. TD Cowen increased their price objective on Textron from $100.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 19th. Susquehanna decreased their target price on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, April 26th. Finally, Bank of America upped their price target on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Textron presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.63.

Textron Stock Performance

Shares of TXT traded up $0.77 during mid-day trading on Friday, reaching $92.06. 743,164 shares of the company’s stock were exchanged, compared to its average volume of 1,134,002. The business’s fifty day simple moving average is $87.64 and its 200-day simple moving average is $88.17. Textron Inc. has a 52-week low of $72.37 and a 52-week high of $97.33. The stock has a market capitalization of $17.56 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.43 and a beta of 1.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.64 and a quick ratio of 0.66.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the firm posted $1.46 EPS. Textron’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts expect that Textron Inc. will post 6.26 earnings per share for the current year.

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.