EP Wealth Advisors LLC Purchases New Shares in Textron Inc. (NYSE:TXT)

EP Wealth Advisors LLC acquired a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,698 shares of the aerospace company's stock, valued at approximately $1,479,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in shares of Textron during the 2nd quarter valued at about $25,000. True Wealth Design LLC purchased a new stake in Textron during the third quarter valued at approximately $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Textron in the second quarter worth approximately $30,000. Oakworth Capital Inc. purchased a new position in shares of Textron during the 2nd quarter worth $31,000. Finally, Family Firm Inc. bought a new stake in shares of Textron during the 2nd quarter valued at $40,000. Institutional investors own 86.03% of the company's stock.

Textron Price Performance

Shares of Textron stock traded down $0.35 on Tuesday, hitting $82.08. 1,150,442 shares of the company traded hands, compared to its average volume of 1,081,514. Textron Inc. has a 52 week low of $75.81 and a 52 week high of $97.33. The business has a 50-day simple moving average of $85.37 and a 200 day simple moving average of $86.92. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.83. The stock has a market capitalization of $15.23 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.49 and a beta of 1.25.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) 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 company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the firm posted $1.49 earnings per share. The business's revenue was up 2.5% on a year-over-year basis. Research analysts expect that Textron Inc. will post 5.52 earnings per share for the current fiscal 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 paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Friday, December 13th. Textron's payout ratio is presently 1.76%.

Analysts Set New Price Targets

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

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.