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

Independent Advisor Alliance grew its holdings in shares of Textron Inc. (NYSE:TXT) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,941 shares of the aerospace company’s stock after acquiring an additional 941 shares during the period. Independent Advisor Alliance’s holdings in Textron were worth $2,596,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Empirical Finance LLC grew 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 in the last quarter. Apollon Wealth Management LLC grew 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 in the last quarter. Pflug Koory LLC grew 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 in the last quarter. V Square Quantitative Management LLC grew 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 in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its stake in Textron by 5.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 163 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on TXT shares. Barclays decreased their price target on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. TD Cowen upgraded Textron to a “hold” rating in a research note on Monday, February 24th. Citigroup decreased their price target on Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price target on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.45.

Textron Stock Performance

Shares of NYSE TXT opened at $72.74 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $75.18 and its two-hundred day moving average price is $81.46. Textron Inc. has a 52-week low of $70.14 and a 52-week high of $97.34. The stock has a market capitalization of $13.21 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.18 and a beta of 1.26.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 earnings per share. As a group, sell-side analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm 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. The ex-dividend date is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Insider Activity

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.70% of the company’s stock.

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.