Wealth Enhancement Advisory Services LLC Purchases 1,527 Shares of Textron Inc. (NYSE:TXT)

Wealth Enhancement Advisory Services LLC grew its position in Textron Inc. (NYSE:TXT) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,147 shares of the aerospace company’s stock after acquiring an additional 1,527 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Textron were worth $2,000,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TXT. True Wealth Design LLC bought a new position in Textron in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP bought a new position in shares of Textron in the third quarter valued at about $42,000. Truvestments Capital LLC acquired a new position in Textron during the 3rd quarter worth about $43,000. Venturi Wealth Management LLC grew its holdings in Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after acquiring an additional 232 shares during the last quarter. Finally, Quarry LP bought a new stake in Textron during the 3rd quarter worth about $81,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Textron Price Performance

Textron stock opened at $77.88 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $14.45 billion, a P/E ratio of 17.12, a PEG ratio of 1.46 and a beta of 1.27. The business has a 50-day moving average of $81.31 and a 200-day moving average of $85.33. Textron Inc. has a 1 year low of $74.89 and a 1 year high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.49 EPS. On average, equities analysts anticipate that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were issued a $0.02 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron’s dividend payout ratio (DPR) is currently 1.76%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TXT. UBS Group reduced their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. TD Cowen upgraded Textron to a “hold” rating in a research report on Thursday, December 19th. Robert W. Baird lowered their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their price target on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Finally, Barclays lowered their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $98.64.

Textron 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.