Textron Inc. (NYSE:TXT) Position Increased by Independent Advisor Alliance

Independent Advisor Alliance raised its holdings in shares of Textron Inc. (NYSE:TXT) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,000 shares of the aerospace company’s stock after purchasing an additional 1,339 shares during the period. Independent Advisor Alliance’s holdings in Textron were worth $2,923,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in TXT. Innealta Capital LLC bought a new stake in Textron during the second quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Textron during the second quarter valued at $30,000. Oakworth Capital Inc. acquired a new position in shares of Textron during the second quarter valued at $31,000. Family Firm Inc. acquired a new position in shares of Textron during the second quarter valued at $40,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Textron during the third quarter valued at $42,000. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

TXT stock opened at $85.73 on Tuesday. The company has a market capitalization of $15.90 billion, a P/E ratio of 18.84, a PEG ratio of 1.54 and a beta of 1.24. The company has a 50-day simple moving average of $85.97 and a 200 day simple moving average of $87.19. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last issued 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). Textron had a return on equity of 16.02% and a net margin of 6.30%. The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter last year, the firm posted $1.49 earnings per share. Textron’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that Textron Inc. will post 5.53 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm 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 $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s dividend payout ratio (DPR) is presently 1.76%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TXT shares. JPMorgan Chase & Co. reduced their price target on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a report on Thursday, August 8th. TD Cowen downgraded shares of Textron from a “buy” rating to a “hold” rating and reduced their price target for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, UBS Group reduced their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and an average target price of $101.56.

About Textron

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.