Independent Advisor Alliance Has $2.92 Million Holdings in Textron Inc. (NYSE:TXT)

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

Several other institutional investors and hedge funds have also recently bought and sold shares of TXT. Lazard Asset Management LLC raised its holdings in Textron by 57.2% during the 1st quarter. Lazard Asset Management LLC now owns 695 shares of the aerospace company’s stock worth $66,000 after buying an additional 253 shares during the period. Bayesian Capital Management LP acquired a new stake in Textron during the 1st quarter worth about $297,000. B. Riley Wealth Advisors Inc. raised its holdings in Textron by 17.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,402 shares of the aerospace company’s stock worth $422,000 after buying an additional 640 shares during the period. California State Teachers Retirement System raised its holdings in Textron by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 331,325 shares of the aerospace company’s stock worth $31,784,000 after buying an additional 3,767 shares during the period. Finally, Tidal Investments LLC increased its holdings in shares of Textron by 57.0% in the 1st quarter. Tidal Investments LLC now owns 10,868 shares of the aerospace company’s stock valued at $1,043,000 after purchasing an additional 3,946 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Up 0.4 %

TXT opened at $85.73 on Tuesday. 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 capitalization of $15.90 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 1.54 and a beta of 1.24. The business has a 50 day moving average of $85.97 and a 200-day moving average of $87.19.

Textron (NYSE:TXT) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the prior year, the company posted $1.49 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.09%. Textron’s dividend payout ratio is 1.76%.

Analyst Ratings Changes

TXT has been the topic of a number of research reports. TD Cowen downgraded Textron from a “buy” rating to a “hold” rating and dropped their target price for the company from $103.00 to $95.00 in a report on Wednesday, September 25th. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a report on Thursday, August 8th. Robert W. Baird dropped their target price on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, UBS Group dropped their target price on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

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.