Lincoln Capital Corp Sells 405 Shares of Textron Inc. (NYSE:TXT)

Lincoln Capital Corp trimmed its holdings in shares of Textron Inc. (NYSE:TXT) by 1.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,649 shares of the aerospace company’s stock after selling 405 shares during the quarter. Textron accounts for 1.3% of Lincoln Capital Corp’s holdings, making the stock its 25th biggest position. Lincoln Capital Corp’s holdings in Textron were worth $3,158,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Davis Investment Partners LLC lifted its holdings in shares of Textron by 0.8% in the third quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock valued at $1,290,000 after purchasing an additional 118 shares in the last quarter. Altman Advisors Inc. boosted its position in Textron by 0.6% during the 2nd quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock worth $1,894,000 after acquiring an additional 129 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Textron by 0.8% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock worth $1,558,000 after acquiring an additional 146 shares during the last quarter. Creative Planning grew its stake in shares of Textron by 0.4% during the 3rd quarter. Creative Planning now owns 37,304 shares of the aerospace company’s stock worth $3,304,000 after acquiring an additional 165 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of 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 during the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TXT shares. Citigroup raised their target price on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. UBS Group dropped their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research report on Thursday, August 8th. Finally, Robert W. Baird dropped their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Stock Up 1.1 %

TXT stock opened at $82.35 on Friday. The business’s 50 day simple moving average is $87.70 and its 200 day simple moving average is $88.09. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33. The firm has a market capitalization of $15.43 billion, a PE ratio of 17.45, a PEG ratio of 1.43 and a beta of 1.23. 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 issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.06). Textron had a return on equity of 16.41% and a net margin of 6.67%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the business earned $1.49 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. As a group, research analysts anticipate that Textron Inc. will post 6.1 EPS for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.10%. Textron’s payout ratio is presently 1.69%.

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.