Mercer Global Advisors Inc. ADV Grows Holdings in Textron Inc. (NYSE:TXT)

Mercer Global Advisors Inc. ADV grew its stake in shares of Textron Inc. (NYSE:TXT) by 10.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,572 shares of the aerospace company’s stock after purchasing an additional 5,409 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Textron were worth $4,857,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TXT. Innealta Capital LLC purchased a new stake in Textron in the 2nd quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Textron in the second quarter worth approximately $30,000. Oakworth Capital Inc. purchased a new position in Textron during the 2nd quarter worth $31,000. Family Firm Inc. bought a new stake in Textron during the 2nd quarter valued at $40,000. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Textron by 200.0% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after buying an additional 338 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Textron Price Performance

Shares of TXT stock opened at $87.91 on Friday. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The firm 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. The stock’s 50-day simple moving average is $88.80 and its 200-day simple moving average is $89.32.

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 the consensus estimate of $1.48 by $0.06. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. Textron’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. As a group, equities analysts forecast that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TXT. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. UBS Group upped their price target on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. TD Cowen increased their price objective on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research note on Thursday, August 8th. Finally, Citigroup increased their target price on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock 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.