Strong Tower Advisory Services Boosts Holdings in Textron Inc. (NYSE:TXT)

Strong Tower Advisory Services grew its holdings in Textron Inc. (NYSE:TXT) by 3.7% in the 4th quarter, HoldingsChannel reports. 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 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TXT. CVA Family Office LLC acquired a new stake in Textron during the fourth quarter worth approximately $29,000. Money Concepts Capital Corp grew its position in Textron by 109.0% in the 4th quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock valued at $31,000 after buying an additional 231 shares during the last quarter. Trust Co. of Vermont purchased a new position in Textron in the 3rd quarter valued at $37,000. Global Retirement Partners LLC boosted its position in shares of Textron by 393.9% during the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock worth $37,000 after purchasing an additional 390 shares in the last quarter. Finally, Provence Wealth Management Group purchased a new stake in shares of Textron during the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

TXT has been the subject of several analyst reports. UBS Group boosted their target price on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Friday, January 26th. StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group reissued a “buy” rating and issued a $98.00 target price on shares of Textron in a research note on Tuesday, January 2nd. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $105.00 in a research note on Friday, March 8th. Finally, Citigroup upped their price objective on shares of Textron from $102.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.00.

Textron Stock Down 0.3 %

TXT opened at $95.93 on Friday. The firm has a 50 day moving average price of $88.49 and a 200 day moving average price of $81.45. The company 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. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.92.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share 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 return on equity of 16.05% and a net margin of 6.73%. Textron’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. Sell-side analysts expect that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Announces Dividend

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

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.