Venturi Wealth Management LLC Raises Stake in Textron Inc. (NYSE:TXT)

Venturi Wealth Management LLC boosted its holdings in Textron Inc. (NYSE:TXT) by 69.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 566 shares of the aerospace company’s stock after purchasing an additional 232 shares during the quarter. Venturi Wealth Management LLC’s holdings in Textron were worth $50,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers grew its stake in shares of Textron by 579.5% in the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock worth $4,862,000 after buying an additional 43,225 shares during the last quarter. Virtu Financial LLC grew its stake in shares of Textron by 259.2% in the first quarter. Virtu Financial LLC now owns 17,367 shares of the aerospace company’s stock worth $1,666,000 after acquiring an additional 12,532 shares during the last quarter. Easterly Investment Partners LLC increased its holdings in shares of Textron by 87.7% during the third quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company’s stock valued at $3,659,000 after acquiring an additional 19,304 shares in the last quarter. Atria Investments Inc purchased a new position in shares of Textron in the 1st quarter worth about $1,204,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Textron by 13.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company’s stock worth $43,884,000 after purchasing an additional 57,967 shares in the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Trading Down 1.4 %

Textron stock opened at $84.91 on Friday. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33. The company has a market cap of $15.75 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.58 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $86.39 and a two-hundred day simple moving average of $87.29.

Textron (NYSE:TXT) last announced its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the firm posted $1.49 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts predict that Textron Inc. will post 5.52 EPS for the current year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Analysts Set New Price Targets

TXT has been the subject of several recent analyst reports. Citigroup lifted their target price on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research report on Thursday, August 8th. Bank of America lifted their target price on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, Robert W. Baird reduced their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.56.

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.