Textron Inc. (NYSE:TXT) Shares Acquired by Raymond James Trust N.A.

Raymond James Trust N.A. increased its holdings in shares of Textron Inc. (NYSE:TXT) by 105.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 7,376 shares of the aerospace company’s stock after acquiring an additional 3,779 shares during the quarter. Raymond James Trust N.A.’s holdings in Textron were worth $653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TXT. Blackhawk Capital Partners LLC. acquired a new stake in Textron during the 3rd quarter worth about $204,000. Massachusetts Financial Services Co. MA grew its holdings in Textron by 5.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 79,973 shares of the aerospace company’s stock worth $7,084,000 after acquiring an additional 4,023 shares during the period. Intech Investment Management LLC raised its position in Textron by 116.5% during the third quarter. Intech Investment Management LLC now owns 16,718 shares of the aerospace company’s stock valued at $1,481,000 after acquiring an additional 8,997 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in Textron by 4,705.6% in the third quarter. Avior Wealth Management LLC now owns 3,460 shares of the aerospace company’s stock valued at $306,000 after acquiring an additional 3,388 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Textron by 4.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 46,397 shares of the aerospace company’s stock worth $4,110,000 after purchasing an additional 2,124 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Robert W. Baird decreased their target price on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research report on Thursday, August 8th. TD Cowen cut Textron from a “buy” rating to a “hold” rating and dropped their target price for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Finally, UBS Group dropped their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Stock Performance

NYSE TXT opened at $85.73 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The stock’s 50 day simple moving average is $85.97 and its 200-day simple moving average is $87.19. The company has a market cap of $15.90 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. Textron Inc. has a 1-year low of $74.13 and a 1-year high of $97.33.

Textron (NYSE:TXT) 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 analysts’ expectations of $3.50 billion. During the same quarter in the previous year, the business posted $1.49 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $0.02 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s payout ratio is 1.76%.

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.