Fiduciary Alliance LLC Purchases Shares of 6,266 Textron Inc. (NYSE:TXT)

Fiduciary Alliance LLC acquired a new stake in shares of Textron Inc. (NYSE:TXT) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 6,266 shares of the aerospace company’s stock, valued at approximately $479,000.

A number of other hedge funds have also modified their holdings of TXT. True Wealth Design LLC acquired a new stake in Textron during the third quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in Textron in the 3rd quarter worth about $42,000. Truvestments Capital LLC purchased a new stake in Textron during the 3rd quarter worth approximately $43,000. Venturi Wealth Management LLC raised its holdings in shares of Textron by 69.5% during the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after acquiring an additional 232 shares during the last quarter. Finally, Trust Co. of Vermont raised its holdings in shares of Textron by 94.7% during the third quarter. Trust Co. of Vermont now owns 915 shares of the aerospace company’s stock valued at $81,000 after acquiring an additional 445 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on TXT. Susquehanna dropped their price target on Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. TD Cowen raised shares of Textron to a “hold” rating in a report on Thursday, December 19th. 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, October 14th. Robert W. Baird dropped their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.64.

Textron Trading Up 1.2 %

NYSE TXT opened at $77.88 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The firm has a market cap of $14.45 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.46 and a beta of 1.27. The firm has a 50 day simple moving average of $81.31 and a 200-day simple moving average of $85.33. Textron Inc. has a one year low of $74.89 and a one year high of $97.33.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 EPS. Equities research analysts anticipate that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date was Friday, December 13th. Textron’s dividend payout ratio is currently 1.76%.

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.