Textron Inc. (NYSE:TXT) Shares Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its position in shares of Textron Inc. (NYSE:TXT) by 384.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175,347 shares of the aerospace company’s stock after purchasing an additional 139,173 shares during the quarter. Wealthfront Advisers LLC owned 0.09% of Textron worth $13,412,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. True Wealth Design LLC acquired a new position in shares of Textron during the third quarter valued at about $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Textron during the fourth quarter worth $31,000. Truvestments Capital LLC acquired a new stake in Textron in the 3rd quarter valued at $43,000. Eastern Bank bought a new stake in Textron during the fourth quarter worth about $42,000. Finally, Venturi Wealth Management LLC raised its stake in Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after buying an additional 232 shares during the period. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Trading Down 2.3 %

Shares of TXT stock opened at $73.67 on Wednesday. Textron Inc. has a fifty-two week low of $70.14 and a fifty-two week high of $97.34. The company has a 50 day moving average price of $75.25 and a 200 day moving average price of $81.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The stock has a market capitalization of $13.38 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the company posted $1.60 EPS. Textron’s revenue was down 7.2% compared to the same quarter last year. Equities research analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron’s payout ratio is currently 1.86%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TXT. TD Cowen raised Textron to a “hold” rating in a research report on Monday, February 24th. Morgan Stanley cut their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Susquehanna reduced their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research report on Monday, January 6th. Finally, Citigroup lowered their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.70% of the company’s stock.

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.