Empirical Asset Management LLC Purchases 324 Shares of Textron Inc. (NYSE:TXT)

Empirical Asset Management LLC boosted its holdings in Textron Inc. (NYSE:TXT) by 11.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,136 shares of the aerospace company’s stock after buying an additional 324 shares during the period. Empirical Asset Management LLC’s holdings in Textron were worth $278,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC bought a new stake in Textron during the 2nd quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Textron during the second quarter valued at approximately $30,000. Oakworth Capital Inc. purchased a new position in shares of Textron in the second quarter worth $31,000. Family Firm Inc. bought a new position in shares of Textron during the second quarter worth $40,000. Finally, Truvestments Capital LLC purchased a new position in Textron during the first quarter valued at $48,000. 86.03% of the stock is owned by institutional investors.

Textron Price Performance

Shares of TXT opened at $88.49 on Tuesday. The stock has a market capitalization of $16.58 billion, a PE ratio of 18.75, a PEG ratio of 1.40 and a beta of 1.23. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.79. The company has a 50 day moving average price of $87.44 and a 200-day moving average price of $88.52.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. Textron’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. Equities analysts predict that Textron Inc. will post 6.15 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date was Friday, September 13th. Textron’s dividend payout ratio is currently 1.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Bank of America raised their price objective on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $103.00 to $95.00 in a research note on Wednesday, September 25th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. decreased their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Citigroup lifted their price objective on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $102.75.

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.