Wealth Enhancement Advisory Services LLC Lowers Stock Holdings in Textron Inc. (NYSE:TXT)

Wealth Enhancement Advisory Services LLC lessened its holdings in Textron Inc. (NYSE:TXT - Free Report) by 23.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,796 shares of the aerospace company's stock after selling 7,467 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Textron were worth $1,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of TXT. SBI Securities Co. Ltd. purchased a new stake in shares of Textron during the 4th quarter worth approximately $31,000. Optiver Holding B.V. purchased a new stake in shares of Textron during the 4th quarter worth approximately $56,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Textron by 123.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock worth $61,000 after acquiring an additional 465 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Textron by 22.9% during the 1st quarter. Parallel Advisors LLC now owns 1,115 shares of the aerospace company's stock worth $81,000 after acquiring an additional 208 shares in the last quarter. Finally, Transce3nd LLC acquired a new position in shares of Textron during the 4th quarter worth approximately $108,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TXT. Citigroup lowered their target price on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. UBS Group increased 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. Jefferies Financial Group reissued a "buy" rating and issued a $95.00 target price (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Finally, Morgan Stanley decreased their price target on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.36.

Textron Trading Up 0.1%

Shares of TXT opened at $80.34 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.83 and a current ratio of 1.80. The company has a market capitalization of $14.50 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.31 and a beta of 1.16. The stock has a fifty day moving average of $74.05 and a two-hundred day moving average of $73.81. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. Textron had a return on equity of 14.77% and a net margin of 5.98%. The firm's revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $1.20 earnings per share. As a group, analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The company 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 dividend of $0.02 per share. The ex-dividend date is Friday, June 13th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron's payout ratio 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.

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