Strong Tower Advisory Services Increases Position in Textron Inc. (NYSE:TXT)

Strong Tower Advisory Services boosted its holdings in Textron Inc. (NYSE:TXT) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,474 shares of the aerospace company’s stock after purchasing an additional 449 shares during the quarter. Strong Tower Advisory Services’ holdings in Textron were worth $1,003,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TXT. CVA Family Office LLC purchased a new stake in Textron in the fourth quarter worth about $29,000. Money Concepts Capital Corp lifted its stake in shares of Textron by 109.0% in the fourth quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock worth $31,000 after buying an additional 231 shares in the last quarter. CENTRAL TRUST Co lifted its stake in shares of Textron by 100.0% in the third quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Textron by 393.9% in the third quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock worth $37,000 after buying an additional 390 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in shares of Textron in the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 25th. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $105.00 in a research report on Friday, March 8th. Citigroup increased their price objective on shares of Textron from $102.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. UBS Group increased their price objective on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research report on Friday, January 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Textron from $84.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Textron presently has an average rating of “Moderate Buy” and an average price target of $90.00.

Textron Stock Performance

Shares of NYSE TXT opened at $95.93 on Friday. The firm has a fifty day moving average price of $88.49 and a 200-day moving average price of $81.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03. The stock has a market cap of $18.46 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.52 and a beta of 1.29. Textron Inc. has a 1 year low of $61.27 and a 1 year high of $96.80.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.07. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 earnings per share. Equities analysts anticipate that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.08%. Textron’s payout ratio is 1.75%.

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.