Allworth Financial LP Purchases 187 Shares of Textron Inc. (NYSE:TXT)

Allworth Financial LP raised its holdings in shares of Textron Inc. (NYSE:TXT) by 11.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,801 shares of the aerospace company’s stock after purchasing an additional 187 shares during the quarter. Allworth Financial LP’s holdings in Textron were worth $141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. True Wealth Design LLC acquired a new position in shares of Textron during the third quarter valued at about $26,000. Capital Performance Advisors LLP bought a new position in Textron in the 3rd quarter valued at about $42,000. Eastern Bank acquired a new position in Textron during the 4th quarter valued at about $42,000. Truvestments Capital LLC bought a new stake in Textron during the 3rd quarter worth approximately $43,000. Finally, Venturi Wealth Management LLC raised its stake in shares of 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 during the last quarter. Institutional investors own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley cut their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Susquehanna lowered their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Monday, January 6th. Finally, Barclays decreased their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and a consensus price target of $93.45.

Textron Stock Performance

Shares of TXT stock opened at $72.34 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a 52 week low of $71.67 and a 52 week high of $97.33. The firm’s 50-day simple moving average is $76.20 and its two-hundred day simple moving average is $82.69.

Textron (NYSE:TXT) last issued 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 firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 earnings per share. As a group, equities analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

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.