HighTower Advisors LLC Purchases 1,812 Shares of Textron Inc. (NYSE:TXT)

HighTower Advisors LLC raised its position in shares of Textron Inc. (NYSE:TXT) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 256,087 shares of the aerospace company’s stock after buying an additional 1,812 shares during the quarter. HighTower Advisors LLC’s holdings in Textron were worth $19,588,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. True Wealth Design LLC bought a new stake in shares of Textron during the 3rd quarter valued at about $26,000. SBI Securities Co. Ltd. bought a new stake in Textron in the fourth quarter worth approximately $31,000. Eastern Bank bought a new stake in Textron in the fourth quarter worth approximately $42,000. Truvestments Capital LLC bought a new stake in Textron in the third quarter worth approximately $43,000. Finally, Venturi Wealth Management LLC increased its holdings in Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after purchasing an additional 232 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Textron Stock Up 1.9 %

Shares of NYSE:TXT opened at $73.38 on Friday. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.18 and a beta of 1.26. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12-month low of $70.14 and a 12-month high of $97.34. The business’s 50 day moving average is $75.06 and its 200 day moving average is $81.22.

Textron (NYSE:TXT) last announced its earnings results 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. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. Textron’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 earnings per share. On average, sell-side analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

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

Analyst Ratings Changes

TXT has been the subject of a number of research analyst reports. Robert W. Baird lowered their target price on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. TD Cowen upgraded Textron to a “hold” rating in a report on Monday, February 24th. Barclays lowered their target price on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Morgan Stanley decreased their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Textron presently has an average rating of “Moderate Buy” and a consensus target price of $93.45.

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.