Captrust Financial Advisors Purchases 10,425 Shares of Textron Inc. (NYSE:TXT)

Captrust Financial Advisors grew its stake in Textron Inc. (NYSE:TXT - Free Report) by 16.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,036 shares of the aerospace company's stock after buying an additional 10,425 shares during the quarter. Captrust Financial Advisors' holdings in Textron were worth $6,381,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Cetera Investment Advisers lifted its stake in Textron by 579.5% in the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company's stock valued at $4,862,000 after purchasing an additional 43,225 shares during the last quarter. Easterly Investment Partners LLC increased its stake in Textron by 87.7% during the 3rd quarter. Easterly Investment Partners LLC now owns 41,305 shares of the aerospace company's stock valued at $3,659,000 after purchasing an additional 19,304 shares in the last quarter. KBC Group NV purchased a new position in shares of Textron during the third quarter valued at approximately $1,797,000. Atria Investments Inc purchased a new position in shares of Textron in the 1st quarter worth approximately $1,204,000. Finally, Robeco Institutional Asset Management B.V. grew its position in Textron by 13.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 495,411 shares of the aerospace company's stock valued at $43,884,000 after buying an additional 57,967 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Performance

Shares of NYSE TXT traded down $0.28 during trading hours on Tuesday, hitting $85.18. 633,377 shares of the stock were exchanged, compared to its average volume of 1,080,703. The company's 50 day moving average is $85.70 and its 200 day moving average is $87.10. The firm has a market capitalization of $15.80 billion, a P/E ratio of 18.71, a P/E/G ratio of 1.54 and a beta of 1.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. Textron Inc. has a one year low of $75.70 and a one year high of $97.33.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.09). The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. Textron had a return on equity of 16.02% and a net margin of 6.30%. Textron's revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.49 EPS. On average, research analysts expect that Textron Inc. will post 5.53 EPS for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, December 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron's payout ratio is currently 1.76%.

Wall Street Analyst Weigh In

Several brokerages have commented on TXT. JPMorgan Chase & Co. cut their target price on Textron from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, October 14th. UBS Group lowered their price target on Textron from $87.00 to $79.00 and set a "sell" rating for the company in a research report on Friday, October 25th. StockNews.com lowered Textron from a "strong-buy" rating to a "buy" rating in a research report on Thursday, September 12th. Morgan Stanley lowered shares of Textron from an "overweight" rating to an "equal weight" rating and set a $95.00 target price for the company. in a report on Thursday, August 8th. Finally, TD Cowen lowered shares of Textron from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $101.56.

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.