Venturi Wealth Management LLC Increases Stock Position in Textron Inc. (NYSE:TXT)

Venturi Wealth Management LLC raised its stake in shares of Textron Inc. (NYSE:TXT) by 69.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 566 shares of the aerospace company’s stock after purchasing an additional 232 shares during the quarter. Venturi Wealth Management LLC’s holdings in Textron were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Wedge Capital Management L L P NC bought a new position in Textron in the second quarter valued at $64,319,000. Canada Pension Plan Investment Board increased its position in shares of Textron by 1,611.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 433,100 shares of the aerospace company’s stock valued at $41,547,000 after purchasing an additional 407,800 shares during the last quarter. Brandes Investment Partners LP raised its holdings in shares of Textron by 20.0% during the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after buying an additional 258,778 shares in the last quarter. AQR Capital Management LLC lifted its position in Textron by 18.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after buying an additional 231,173 shares during the last quarter. Finally, Fidelity National Financial Inc. purchased a new stake in Textron in the second quarter worth approximately $19,748,000. Institutional investors own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America upped their price objective on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Citigroup raised their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. UBS Group lowered their target price on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research note on Friday, October 25th. TD Cowen lowered Textron from a “buy” rating to a “hold” rating and reduced their price target for the stock from $103.00 to $95.00 in a research report on Wednesday, September 25th. Finally, Robert W. Baird lowered their price objective 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.56.

Textron Stock Performance

Shares of TXT stock opened at $84.91 on Friday. The firm has a market capitalization of $15.75 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 1.58 and a beta of 1.24. The stock has a fifty day moving average of $86.39 and a 200 day moving average of $87.29. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the business posted $1.49 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, research analysts expect that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s payout ratio is presently 1.76%.

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.