Wealth Alliance Sells 1,896 Shares of Textron Inc. (NYSE:TXT)

Wealth Alliance reduced its position in Textron Inc. (NYSE:TXT) by 44.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,340 shares of the aerospace company’s stock after selling 1,896 shares during the period. Wealth Alliance’s holdings in Textron were worth $201,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TXT. Innealta Capital LLC bought a new stake in shares of Textron in the second quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Textron during the second quarter worth $30,000. Oakworth Capital Inc. bought a new position in shares of Textron in the second quarter worth $31,000. Family Firm Inc. purchased a new position in shares of Textron in the second quarter valued at $40,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Textron by 200.0% during the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after purchasing an additional 338 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Textron Trading Down 1.2 %

NYSE TXT opened at $87.91 on Friday. The stock’s 50-day simple moving average is $88.82 and its two-hundred day simple moving average is $89.33. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $16.76 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.40 and a beta of 1.23.

Textron (NYSE:TXT) last released its earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the company posted $1.46 EPS. Textron’s quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts forecast that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Friday, September 13th. Textron’s payout ratio is presently 1.71%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a report on Thursday, August 8th. UBS Group boosted their price objective on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research note on Friday, July 19th. Citigroup increased their target price on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. TD Cowen lifted their price objective on Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Bank of America upped their target price on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.50.

About Textron

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.