Textron Inc. (NYSE:TXT) Stock Position Increased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC grew its position in Textron Inc. (NYSE:TXT) by 10.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,849 shares of the aerospace company’s stock after purchasing an additional 845 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Textron were worth $784,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Textron by 31.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,023 shares of the aerospace company’s stock worth $1,055,000 after buying an additional 2,867 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Textron by 14.9% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 8,669 shares of the aerospace company’s stock worth $768,000 after acquiring an additional 1,122 shares during the period. Marietta Wealth Management LLC grew its stake in shares of Textron by 5.1% in the third quarter. Marietta Wealth Management LLC now owns 32,383 shares of the aerospace company’s stock worth $2,868,000 after purchasing an additional 1,584 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Textron by 10.2% during the third quarter. Private Advisor Group LLC now owns 15,948 shares of the aerospace company’s stock valued at $1,413,000 after purchasing an additional 1,481 shares during the period. Finally, Stanley Laman Group Ltd. raised its stake in shares of Textron by 1.0% during the third quarter. Stanley Laman Group Ltd. now owns 39,323 shares of the aerospace company’s stock valued at $3,483,000 after purchasing an additional 405 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Stock Performance

TXT opened at $82.35 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. The firm has a market cap of $15.70 billion, a PE ratio of 17.60, a P/E/G ratio of 1.43 and a beta of 1.23. The business has a fifty day simple moving average of $87.70 and a 200-day simple moving average of $87.98. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.06). Textron had a return on equity of 16.41% and a net margin of 6.67%. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the business posted $1.49 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts predict that Textron Inc. will post 6.1 EPS for the current fiscal year.

Textron Dividend Announcement

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 given a $0.02 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron’s dividend payout ratio (DPR) is presently 1.71%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TXT shares. JPMorgan Chase & Co. lowered their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and lowered their price objective for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Robert W. Baird cut their target price on Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Citigroup upped their price objective on Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.