Textron Inc. (NYSE:TXT) Shares Acquired by AE Wealth Management LLC

AE Wealth Management LLC increased its holdings in shares of Textron Inc. (NYSE:TXT) by 15.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,857 shares of the aerospace company’s stock after purchasing an additional 2,566 shares during the quarter. AE Wealth Management LLC’s holdings in Textron were worth $1,619,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Avantax Advisory Services Inc. acquired a new stake in shares of Textron in the fourth quarter valued at approximately $201,000. UBS Group AG grew its holdings in Textron by 62.5% in the fourth quarter. UBS Group AG now owns 463,574 shares of the aerospace company’s stock valued at $37,281,000 after purchasing an additional 178,321 shares during the last quarter. Corient Private Wealth LLC grew its stake in Textron by 6.9% in the 4th quarter. Corient Private Wealth LLC now owns 33,292 shares of the aerospace company’s stock valued at $2,677,000 after acquiring an additional 2,155 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Textron in the fourth quarter valued at approximately $1,947,000. Finally, Franklin Resources Inc. increased its position in Textron by 31.1% during the fourth quarter. Franklin Resources Inc. now owns 144,536 shares of the aerospace company’s stock worth $11,624,000 after buying an additional 34,298 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TXT shares. UBS Group lifted their price target on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a report on Friday, July 19th. 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 report on Tuesday, July 23rd. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a report on Thursday, August 8th. Finally, TD Cowen upped their target price 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.50.

Textron Stock Performance

Shares of TXT opened at $86.89 on Tuesday. The firm has a fifty day moving average of $88.72 and a 200-day moving average of $89.28. The company has a market cap of $16.57 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. The company had revenue of $3.53 billion for 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%. Textron’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 earnings per share. As a group, equities analysts anticipate that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Dividend Announcement

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 issued a dividend of $0.02 per share. The ex-dividend date is Friday, September 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s payout ratio is 1.71%.

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.