Textron Inc. (NYSE:TXT) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance lifted its stake in shares of Textron Inc. (NYSE:TXT) by 2.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 33,941 shares of the aerospace company’s stock after purchasing an additional 941 shares during the period. Independent Advisor Alliance’s holdings in Textron were worth $2,596,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Empirical Finance LLC increased its stake in shares of Textron by 1.7% during the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after acquiring an additional 115 shares during the period. Apollon Wealth Management LLC increased its stake in shares of Textron by 4.9% during the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after acquiring an additional 125 shares during the period. Pflug Koory LLC increased its stake in shares of Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after acquiring an additional 125 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Textron by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock valued at $200,000 after acquiring an additional 141 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in shares of Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after acquiring an additional 163 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Price Performance

Shares of NYSE:TXT opened at $72.74 on Thursday. The company’s fifty day moving average is $75.18 and its two-hundred day moving average is $81.46. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. Textron Inc. has a 12-month low of $70.14 and a 12-month high of $97.34. The company has a market cap of $13.21 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26.

Textron (NYSE:TXT) last announced its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same period in the previous year, the business earned $1.60 EPS. The company’s revenue was down 7.2% on a year-over-year basis. Equities analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

Insider Activity

In other news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TXT has been the topic of a number of research analyst reports. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Monday, January 6th. Bank of America cut Textron from a “buy” rating to a “neutral” rating and dropped their price target for the company from $110.00 to $85.00 in a report on Friday, January 24th. Susquehanna dropped their price target on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. TD Cowen raised Textron to a “hold” rating in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. dropped their price target on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.45.

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.