Fiduciary Alliance LLC Invests $479,000 in Textron Inc. (NYSE:TXT)

Fiduciary Alliance LLC acquired a new position in shares of Textron Inc. (NYSE:TXTFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,266 shares of the aerospace company’s stock, valued at approximately $479,000.

Other hedge funds also recently modified their holdings of the company. Czech National Bank raised its holdings in Textron by 5.4% during the 4th quarter. Czech National Bank now owns 40,223 shares of the aerospace company’s stock worth $3,077,000 after buying an additional 2,056 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Textron by 6.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,147 shares of the aerospace company’s stock valued at $2,000,000 after acquiring an additional 1,527 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Textron in the fourth quarter valued at $11,523,000. Central Pacific Bank Trust Division grew its position in shares of Textron by 4.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 24,200 shares of the aerospace company’s stock valued at $1,851,000 after acquiring an additional 1,000 shares during the period. Finally, Franklin Resources Inc. raised its stake in Textron by 10.3% in the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock valued at $14,505,000 after buying an additional 15,294 shares during the period. Institutional investors own 86.03% of the company’s stock.

Textron Trading Up 1.2 %

Shares of NYSE:TXT opened at $77.88 on Wednesday. Textron Inc. has a 12-month low of $74.89 and a 12-month high of $97.33. The company has a market cap of $14.45 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The stock has a 50 day moving average of $81.31 and a 200 day moving average of $85.33. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXTGet Free Report) last released its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company earned $1.49 EPS. As a group, equities research analysts expect that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a $0.02 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron’s dividend payout ratio is currently 1.76%.

Analyst Ratings Changes

Several equities research analysts have issued reports on TXT shares. UBS Group cut their price objective on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a report on Monday, January 6th. TD Cowen raised Textron to a “hold” rating in a report on Thursday, December 19th. Barclays lowered their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Finally, Robert W. Baird dropped their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron has an average rating of “Moderate Buy” and a consensus price target of $98.64.

Get Our Latest Analysis on TXT

Textron Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Textron (NYSE:TXT)

Receive News & Ratings for Textron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textron and related companies with MarketBeat.com's FREE daily email newsletter.