Contravisory Investment Management Inc. Has $545,000 Stock Holdings in Textron Inc. (NYSE:TXT)

Contravisory Investment Management Inc. grew its stake in Textron Inc. (NYSE:TXT) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,059 shares of the aerospace company’s stock after purchasing an additional 158 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Textron were worth $545,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Analysts LLC purchased a new position in shares of Textron during the 1st quarter valued at about $29,000. SOA Wealth Advisors LLC. grew its holdings in Textron by 129.8% in the first quarter. SOA Wealth Advisors LLC. now owns 439 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 248 shares during the period. Money Concepts Capital Corp increased its holdings in shares of Textron by 109.0% during the fourth quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 231 shares in the last quarter. Thompson Investment Management Inc. bought a new stake in shares of Textron in the 1st quarter worth $35,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Textron in the first quarter worth $40,000. Hedge funds and other institutional investors own 85.92% of the company’s stock.

Insider Transactions at Textron

In other Textron news, Director R Kerry Clark sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $75.33, for a total transaction of $376,650.00. Following the transaction, the director now owns 13,870 shares in the company, valued at $1,044,827.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.70% of the company’s stock.

Textron Price Performance

Textron stock traded up $0.51 during mid-day trading on Monday, reaching $76.72. The company had a trading volume of 352,392 shares, compared to its average volume of 1,312,769. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.87 and a quick ratio of 0.93. The stock’s 50-day simple moving average is $74.48 and its 200-day simple moving average is $69.58. Textron Inc. has a 1 year low of $58.03 and a 1 year high of $80.10. The company has a market capitalization of $15.20 billion, a P/E ratio of 17.52, a P/E/G ratio of 1.22 and a beta of 1.49.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 27th. The aerospace company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.25. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.42 billion. Textron had a net margin of 6.88% and a return on equity of 13.83%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.00 EPS. On average, equities analysts predict that Textron Inc. will post 5.3 EPS for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.08 annualized dividend and a yield of 0.10%. Textron’s payout ratio is 1.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citigroup upped their price target on shares of Textron from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Bank of America boosted their price target on shares of Textron from $76.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 15th. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 13th. Vertical Research lowered shares of Textron from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a research note on Wednesday, May 24th. Finally, Susquehanna increased their price objective on shares of Textron from $83.00 to $89.00 and gave the company a “positive” rating in a research note on Friday, July 28th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Textron has an average rating of “Moderate Buy” and a consensus target price of $86.00.

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.