Textron Inc. (NYSE:TXT) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 27.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,263 shares of the aerospace company's stock after purchasing an additional 6,643 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Textron were worth $2,391,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Textron by 44.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock valued at $1,343,000 after purchasing an additional 5,367 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Textron by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company's stock valued at $36,365,000 after purchasing an additional 4,381 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Textron by 2.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,026 shares of the aerospace company's stock valued at $1,455,000 after buying an additional 449 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Textron during the 4th quarter worth approximately $63,000. Finally, Apollon Wealth Management LLC lifted its position in shares of Textron by 27.5% during the 4th quarter. Apollon Wealth Management LLC now owns 3,384 shares of the aerospace company's stock valued at $259,000 after buying an additional 729 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Price Performance

TXT stock traded up $1.52 during mid-day trading on Monday, reaching $77.09. The company's stock had a trading volume of 1,122,060 shares, compared to its average volume of 1,222,196. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The company's 50 day moving average is $70.20 and its two-hundred day moving average is $74.46. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The stock has a market cap of $13.92 billion, a PE ratio of 17.89, a P/E/G ratio of 1.18 and a beta of 1.16.

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

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 yield of 0.10%. The ex-dividend date is Friday, June 13th. Textron's payout ratio is currently 1.81%.

Analyst Ratings Changes

Several brokerages recently commented on TXT. TD Cowen raised shares of Textron to a "hold" rating in a report on Monday, February 24th. Morgan Stanley cut their target price on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Citigroup decreased their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group lifted their price objective on Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a 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 company's stock. According to data from MarketBeat, Textron currently has a consensus rating of "Hold" and a consensus price target of $87.70.

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.