Cetera Investment Advisers Has $4.56 Million Stock Holdings in Textron Inc. (NYSE:TXT)

Cetera Investment Advisers lifted its stake in Textron Inc. (NYSE:TXT) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,084 shares of the aerospace company’s stock after acquiring an additional 2,400 shares during the quarter. Cetera Investment Advisers’ holdings in Textron were worth $4,558,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC bought a new stake in Textron in the second quarter worth $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Textron in the second quarter worth $30,000. Oakworth Capital Inc. bought a new stake in Textron in the second quarter worth $31,000. Family Firm Inc. bought a new stake in Textron in the second quarter worth $40,000. Finally, Truvestments Capital LLC bought a new stake in Textron during the first quarter valued at about $48,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Stock Performance

NYSE:TXT opened at $86.34 on Thursday. The firm has a market capitalization of $16.18 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23. The firm has a 50-day moving average price of $87.44 and a 200 day moving average price of $88.75. 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 Inc. has a 12-month low of $74.13 and a 12-month high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.06. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $1.46 earnings per share. Research analysts anticipate that Textron Inc. will post 6.18 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on TXT. UBS Group upped their price target on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. Morgan Stanley cut shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. Bank of America upped 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. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and reduced their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Finally, StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Textron has a consensus rating of “Hold” and an average target price of $101.50.

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.