True Wealth Design LLC Buys Shares of 294 Textron Inc. (NYSE:TXT)

True Wealth Design LLC purchased a new position in Textron Inc. (NYSE:TXT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 294 shares of the aerospace company’s stock, valued at approximately $26,000.

Several other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Textron by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after buying an additional 160,923 shares during the period. Brandes Investment Partners LP lifted its holdings in Textron by 20.0% during the second quarter. Brandes Investment Partners LP now owns 1,549,551 shares of the aerospace company’s stock valued at $133,096,000 after purchasing an additional 258,778 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Textron by 18.9% in the second quarter. AQR Capital Management LLC now owns 1,451,293 shares of the aerospace company’s stock worth $124,608,000 after purchasing an additional 231,173 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Textron by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,398,779 shares of the aerospace company’s stock worth $120,099,000 after purchasing an additional 6,175 shares in the last quarter. Finally, TD Asset Management Inc raised its position in shares of Textron by 3.2% during the 2nd quarter. TD Asset Management Inc now owns 1,087,342 shares of the aerospace company’s stock valued at $93,359,000 after purchasing an additional 33,394 shares during the period. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TXT shares. Robert W. Baird cut their price target on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. UBS Group cut their target price on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a report on Thursday, August 8th. Finally, StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Textron Stock Down 0.2 %

NYSE TXT opened at $85.44 on Tuesday. The stock has a 50 day moving average price of $85.73 and a 200-day moving average price of $87.11. Textron Inc. has a one year low of $75.70 and a one year high of $97.33. The company has a market capitalization of $15.85 billion, a P/E ratio of 18.78, a P/E/G ratio of 1.54 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 earnings per share. As a group, equities analysts predict that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders 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 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.76%.

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.