Lincoln Capital Corp Buys 12,996 Shares of Textron Inc. (NYSE:TXT)

Lincoln Capital Corp lifted its stake in shares of Textron Inc. (NYSE:TXT) by 63.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,484 shares of the aerospace company’s stock after acquiring an additional 12,996 shares during the quarter. Textron makes up 1.3% of Lincoln Capital Corp’s holdings, making the stock its 20th biggest holding. Lincoln Capital Corp’s holdings in Textron were worth $2,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its holdings in Textron by 0.5% in the second quarter. State Street Corp now owns 8,933,601 shares of the aerospace company’s stock worth $604,357,000 after purchasing an additional 42,749 shares in the last quarter. Metis Global Partners LLC increased its holdings in Textron by 12.8% in the third 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 in the last quarter. LSV Asset Management grew its stake in 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 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 during the period. Finally, AustralianSuper Pty Ltd grew its stake in Textron by 13.2% in the fourth quarter. AustralianSuper Pty Ltd now owns 98,773 shares of the aerospace company’s stock valued at $7,943,000 after acquiring an additional 11,510 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on TXT. JPMorgan Chase & Co. raised their price objective on Textron from $84.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, December 20th. UBS Group raised their price objective on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Friday, January 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $98.00 price objective on shares of Textron in a research note on Tuesday, January 2nd. StockNews.com raised Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Finally, Bank of America raised Textron from a “neutral” rating to a “buy” rating and lifted their target price for the company from $85.00 to $105.00 in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and a consensus target price of $90.00.

Textron Stock Performance

TXT stock traded up $0.29 during midday trading on Wednesday, hitting $96.25. The company’s stock had a trading volume of 1,382,867 shares, compared to its average volume of 1,173,700. The stock’s 50-day moving average price is $88.14 and its 200 day moving average price is $81.35. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50. Textron Inc. has a 1 year low of $61.27 and a 1 year high of $96.80. The stock has a market cap of $18.52 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.51 and a beta of 1.29.

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

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be given a $0.02 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Textron’s dividend payout ratio is currently 1.75%.

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.