Textron Inc. (NYSE:TXT) Shares Acquired by Elk River Wealth Management LLC

Elk River Wealth Management LLC boosted its position in Textron Inc. (NYSE:TXT) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,451 shares of the aerospace company’s stock after purchasing an additional 934 shares during the period. Elk River Wealth Management LLC’s holdings in Textron were worth $5,179,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. raised its position in shares of 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. SG Americas Securities LLC boosted its stake in shares of Textron by 461.1% during the first quarter. SG Americas Securities LLC now owns 117,257 shares of the aerospace company’s stock valued at $11,248,000 after acquiring an additional 96,361 shares during the last quarter. LSV Asset Management raised its stake in Textron by 6.9% in the 1st quarter. LSV Asset Management now owns 4,053,050 shares of the aerospace company’s stock valued at $388,809,000 after purchasing an additional 260,003 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Textron by 579.5% in the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock valued at $4,862,000 after purchasing an additional 43,225 shares in the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of Textron by 259.2% during the 1st quarter. Virtu Financial LLC now owns 17,367 shares of the aerospace company’s stock worth $1,666,000 after purchasing an additional 12,532 shares during the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TXT. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. Bank of America increased their price target on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and lowered their price objective for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research note on Thursday, August 8th. Finally, Citigroup boosted their price objective on shares of Textron from $111.00 to $115.00 and gave the company 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 given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $101.50.

Textron Stock Down 0.2 %

TXT traded down $0.20 on Monday, reaching $87.76. The company’s stock had a trading volume of 59,969 shares, compared to its average volume of 1,064,477. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81. Textron Inc. has a 1 year low of $74.13 and a 1 year high of $97.33. The business’s 50 day moving average is $87.37 and its 200 day moving average is $88.57. The stock has a market cap of $16.44 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23.

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

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.02 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is 1.69%.

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.