Textron Inc. (NYSE:TXT) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in Textron Inc. (NYSE:TXT) by 6.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 43,482 shares of the aerospace company’s stock after acquiring an additional 2,754 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Textron were worth $3,733,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its position in Textron by 263.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock worth $1,283,000 after purchasing an additional 9,692 shares during the last quarter. SageView Advisory Group LLC purchased a new position in shares of Textron in the 4th quarter valued at approximately $922,000. Studio Investment Management LLC acquired a new position in shares of Textron in the fourth quarter valued at approximately $1,223,000. Charles Schwab Investment Management Inc. raised its stake in shares of Textron by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,692,173 shares of the aerospace company’s stock worth $136,085,000 after purchasing an additional 19,769 shares during the last quarter. Finally, Duality Advisers LP acquired a new stake in shares of Textron in the 4th quarter worth $2,745,000. Institutional investors and hedge funds own 86.03% of the company’s stock.

Insider Activity

In other news, Director Kathleen M. Bader sold 11,870 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the transaction, the director now directly owns 3,756 shares of the company’s stock, valued at $330,189.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TXT shares. TD Cowen lifted their price objective on Textron from $100.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 19th. The Goldman Sachs Group increased their price target on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Citigroup boosted their price objective on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. UBS Group lifted their price target on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. Finally, Susquehanna dropped their price objective on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.50.

Textron Stock Performance

TXT traded up $0.51 on Tuesday, hitting $85.34. 170,995 shares of the company’s stock were exchanged, compared to its average volume of 1,117,759. The company has a current ratio of 1.79, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. The stock has a fifty day moving average of $87.60 and a two-hundred day moving average of $88.99. Textron Inc. has a twelve month low of $73.78 and a twelve month high of $97.33. The firm has a market cap of $15.99 billion, a PE ratio of 18.13, a P/E/G ratio of 1.35 and a beta of 1.25.

Textron (NYSE:TXT) last released its quarterly earnings data on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 EPS. On average, research analysts anticipate that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s dividend payout ratio (DPR) is 1.71%.

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.