Wealth Enhancement Advisory Services LLC Purchases 6,643 Shares of Textron Inc. (NYSE:TXT)

Wealth Enhancement Advisory Services LLC raised its stake in Textron Inc. (NYSE:TXT - Free Report) by 27.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,263 shares of the aerospace company's stock after purchasing an additional 6,643 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Textron were worth $2,391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Textron in the fourth quarter valued at $31,000. Optiver Holding B.V. bought a new stake in shares of Textron in the fourth quarter valued at about $56,000. Golden State Wealth Management LLC bought a new stake in shares of Textron in the fourth quarter valued at about $63,000. McClarren Financial Advisors Inc. bought a new stake in shares of Textron in the fourth quarter valued at about $68,000. Finally, Transce3nd LLC bought a new stake in shares of Textron in the fourth quarter valued at about $108,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Citigroup reduced their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Morgan Stanley dropped their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. UBS Group upped their price objective on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a research note on Monday, April 28th. Finally, TD Cowen raised Textron to a "hold" rating in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $87.70.

Textron Trading Up 1.6%

Shares of TXT stock traded up $1.17 during trading hours on Friday, hitting $75.67. 793,030 shares of the company were exchanged, compared to its average volume of 1,222,598. The firm has a market cap of $13.66 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.18 and a beta of 1.16. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The company has a 50 day simple moving average of $70.20 and a two-hundred day simple moving average of $74.53.

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

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio (DPR) is 1.81%.

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.