Commonwealth Equity Services LLC Grows Stock Holdings in Textron Inc. (NYSE:TXT)

Commonwealth Equity Services LLC lifted its position in shares of Textron Inc. (NYSE:TXT) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 39,838 shares of the aerospace company’s stock after purchasing an additional 1,566 shares during the period. Commonwealth Equity Services LLC’s holdings in Textron were worth $3,421,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TXT. Innealta Capital LLC bought a new stake in Textron in the 2nd quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Textron in the 2nd quarter valued at $30,000. Oakworth Capital Inc. bought a new stake in Textron in the 2nd quarter valued at $31,000. Family Firm Inc. bought a new stake in Textron in the 2nd quarter valued at $40,000. Finally, Jones Financial Companies Lllp increased its holdings in Textron by 200.0% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 338 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Bank of America lifted their price target on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a report on Thursday, August 8th. TD Cowen boosted their target price on shares of Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 19th. UBS Group boosted their target price on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a report on Friday, July 19th. Finally, StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $102.50.

Textron Stock Performance

Textron stock opened at $86.58 on Wednesday. The company has a market cap of $16.22 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 1.36 and a beta of 1.23. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33. The company’s 50-day moving average price is $88.59 and its 200-day moving average price is $89.36. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. On average, equities research analysts forecast that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, September 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s payout ratio is 1.71%.

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.