Cetera Investment Advisers Has $4.03 Million Position in Textron Inc. (NYSE:TXT)

Cetera Investment Advisers boosted its holdings in Textron Inc. (NYSE:TXT - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,717 shares of the aerospace company's stock after purchasing an additional 4,024 shares during the period. Cetera Investment Advisers' holdings in Textron were worth $4,032,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in shares of Textron during the 4th quarter valued at $31,000. Eastern Bank bought a new position in shares of Textron during the 4th quarter valued at about $42,000. Optiver Holding B.V. bought a new position in Textron during the 4th quarter worth approximately $56,000. Golden State Wealth Management LLC bought a new position in Textron during the 4th quarter worth approximately $63,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in Textron in the 4th quarter worth approximately $68,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Stock Down 2.2%

TXT traded down $1.66 on Wednesday, reaching $74.39. The company's stock had a trading volume of 122,980 shares, compared to its average volume of 1,205,843. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $94.57. The business's 50 day moving average is $70.15 and its 200 day moving average is $75.55. The stock has a market cap of $13.43 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. The company had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. Textron's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 EPS. As a group, research analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron's payout ratio is 1.81%.

Analysts Set New Price Targets

TXT has been the subject of a number of recent research reports. Morgan Stanley lowered their price objective on Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Robert W. Baird decreased their target price on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. Bank of America cut Textron from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, UBS Group increased their target price on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $87.70.

Insider Activity

In related news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. The trade was a 23.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

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.