Cerity Partners LLC Acquires 638 Shares of Textron Inc. (NYSE:TXT)

Cerity Partners LLC increased its stake in Textron Inc. (NYSE:TXTGet Rating) by 9.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,139 shares of the aerospace company’s stock after purchasing an additional 638 shares during the quarter. Cerity Partners LLC’s holdings in Textron were worth $436,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Yousif Capital Management LLC grew its holdings in Textron by 0.7% in the first quarter. Yousif Capital Management LLC now owns 26,689 shares of the aerospace company’s stock worth $1,985,000 after purchasing an additional 175 shares during the period. Concord Wealth Partners grew its stake in shares of Textron by 24.6% in the 2nd quarter. Concord Wealth Partners now owns 897 shares of the aerospace company’s stock valued at $55,000 after buying an additional 177 shares during the period. Pictet Asset Management SA increased its position in Textron by 0.6% in the 2nd quarter. Pictet Asset Management SA now owns 31,993 shares of the aerospace company’s stock valued at $1,954,000 after buying an additional 182 shares in the last quarter. Allworth Financial LP raised its stake in Textron by 53.0% during the 2nd quarter. Allworth Financial LP now owns 560 shares of the aerospace company’s stock worth $34,000 after buying an additional 194 shares during the period. Finally, US Bancorp DE boosted its holdings in Textron by 1.0% in the second quarter. US Bancorp DE now owns 20,531 shares of the aerospace company’s stock worth $1,253,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 87.80% of the company’s stock.

Textron Price Performance

TXT opened at $70.07 on Friday. Textron Inc. has a 1 year low of $57.11 and a 1 year high of $79.45. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.22 and a quick ratio of 1.17. The company has a market capitalization of $14.63 billion, a price-to-earnings ratio of 18.11, a P/E/G ratio of 1.15 and a beta of 1.52. The firm’s fifty day moving average price is $64.29 and its two-hundred day moving average price is $63.89.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 9th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Thursday, December 8th. Textron’s dividend payout ratio (DPR) is presently 2.07%.

Wall Street Analyst Weigh In

Several research firms have recently commented on TXT. Bank of America decreased their price objective on Textron from $74.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, July 28th. Susquehanna Bancshares decreased their price target on shares of Textron from $90.00 to $84.00 and set a “positive” rating for the company in a research note on Friday, July 29th. Morgan Stanley dropped their price objective on shares of Textron from $90.00 to $84.00 and set an “overweight” rating on the stock in a research note on Friday, October 28th. Cfra boosted their target price on shares of Textron to $73.00 in a research report on Tuesday, August 9th. Finally, Sanford C. Bernstein started coverage on shares of Textron in a research report on Tuesday, September 13th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Textron currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.40.

Textron Company Profile

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Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company's 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.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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