Textron Inc. (NYSE:TXT) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC lifted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 110.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,171 shares of the aerospace company's stock after buying an additional 14,789 shares during the period. Cerity Partners LLC's holdings in Textron were worth $2,495,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in Textron during the 2nd quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Textron in the 2nd quarter valued at $30,000. Oakworth Capital Inc. purchased a new position in shares of Textron in the second quarter worth about $31,000. Family Firm Inc. purchased a new position in Textron in the 2nd quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Textron in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 86.03% of the company's stock.

Textron Stock Down 0.2 %

Shares of TXT traded down $0.19 during midday trading on Monday, hitting $85.44. The company had a trading volume of 919,291 shares, compared to its average volume of 1,082,632. The company's 50-day simple moving average is $85.73 and its 200-day simple moving average is $87.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. Textron Inc. has a 1 year low of $75.70 and a 1 year high of $97.33. The firm has a market capitalization of $15.85 billion, a P/E ratio of 18.78, a P/E/G ratio of 1.54 and a beta of 1.24.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the business posted $1.49 earnings per share. Textron's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Textron Inc. will post 5.53 EPS for the current year.

Textron Announces Dividend

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

Analysts Set New Price Targets

TXT has been the topic of a number of recent research reports. StockNews.com lowered Textron from a "strong-buy" rating to a "buy" rating in a research note on Thursday, September 12th. UBS Group cut their price objective on shares of Textron from $87.00 to $79.00 and set a "sell" rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their target price on shares of Textron from $100.00 to $95.00 and set a "neutral" rating on the stock in a report on Monday, October 14th. Robert W. Baird lowered their price objective on Textron from $109.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Finally, TD Cowen downgraded shares of Textron from a "buy" rating to a "hold" rating and reduced their price target for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.56.

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.