Cerity Partners LLC Boosts Stock Holdings in Textron Inc. (NYSE:TXT)

Cerity Partners LLC raised its stake in shares of Textron Inc. (NYSE:TXT) by 110.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,171 shares of the aerospace company’s stock after purchasing an additional 14,789 shares during the period. Cerity Partners LLC’s holdings in Textron were worth $2,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in TXT. Dimensional Fund Advisors LP grew its holdings in shares of Textron by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock valued at $241,152,000 after purchasing an additional 160,923 shares in the last quarter. Brandes Investment Partners LP grew its stake in shares of Textron by 20.0% in the 2nd quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock worth $133,096,000 after buying an additional 258,778 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of 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. Bank of New York Mellon Corp lifted its holdings in shares of Textron by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company’s stock valued at $120,099,000 after acquiring an additional 6,175 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Textron by 3.2% in the 2nd quarter. TD Asset Management Inc now owns 1,087,342 shares of the aerospace company’s stock valued at $93,359,000 after acquiring an additional 33,394 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Price Performance

Textron stock opened at $85.63 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The stock has a market cap of $15.89 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. The firm has a 50-day moving average of $85.73 and a two-hundred day moving average of $87.12. Textron Inc. has a 1 year low of $74.61 and a 1 year high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $1.49 EPS. On average, research analysts forecast that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have weighed in on TXT. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. UBS Group dropped their price objective on shares of 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 downgraded 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. JPMorgan Chase & Co. lowered their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.56.

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.