Wealth Enhancement Advisory Services LLC Has $2.18 Million Holdings in Textron Inc. (NYSE:TXT)

Wealth Enhancement Advisory Services LLC increased its holdings in Textron Inc. (NYSE:TXT) by 37.9% in the third quarter, Holdings Channel reports. The institutional investor owned 24,620 shares of the aerospace company’s stock after buying an additional 6,766 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Textron were worth $2,181,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. increased its holdings in Textron by 263.6% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock valued at $1,283,000 after buying an additional 9,692 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Textron by 461.1% in the 1st quarter. SG Americas Securities LLC now owns 117,257 shares of the aerospace company’s stock valued at $11,248,000 after purchasing an additional 96,361 shares in the last quarter. LSV Asset Management increased its stake in shares of 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 raised its holdings in shares of Textron by 579.5% during the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock worth $4,862,000 after buying an additional 43,225 shares in the last quarter. Finally, Virtu Financial LLC lifted its position 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 buying an additional 12,532 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Trading Up 1.3 %

Shares of TXT stock opened at $81.46 on Friday. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The stock has a market cap of $15.11 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 1.45 and a beta of 1.24. The stock has a 50-day moving average of $87.00 and a 200-day moving average of $87.64.

Textron (NYSE:TXT) last released its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the company posted $1.49 EPS. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Textron Inc. will post 5.52 earnings per share for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron’s dividend payout ratio (DPR) is currently 1.76%.

Wall Street Analyst Weigh In

TXT has been the subject of a number of research reports. Bank of America increased their target price on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley lowered shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research report on Thursday, August 8th. Citigroup increased their price target on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. UBS Group reduced their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

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.