Clarius Group LLC Boosts Stake in Textron Inc. (NYSE:TXT)

Clarius Group LLC increased its position in shares of Textron Inc. (NYSE:TXT) by 6.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,904 shares of the aerospace company’s stock after purchasing an additional 237 shares during the period. Clarius Group LLC’s holdings in Textron were worth $264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TXT. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Textron by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 29,493 shares of the aerospace company’s stock worth $2,194,000 after purchasing an additional 1,826 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Textron by 0.9% during the first quarter. Great West Life Assurance Co. Can now owns 55,591 shares of the aerospace company’s stock valued at $4,331,000 after acquiring an additional 500 shares during the last quarter. Yousif Capital Management LLC increased its position in shares of Textron by 0.7% during the first quarter. Yousif Capital Management LLC now owns 26,689 shares of the aerospace company’s stock valued at $1,985,000 after acquiring an additional 175 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Textron by 0.8% during the first quarter. Vanguard Group Inc. now owns 23,503,096 shares of the aerospace company’s stock valued at $1,748,161,000 after acquiring an additional 177,502 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Textron by 52.6% during the first quarter. Covestor Ltd now owns 1,506 shares of the aerospace company’s stock valued at $112,000 after acquiring an additional 519 shares during the last quarter. 85.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Textron

In other news, Director R Kerry Clark sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $75.33, for a total transaction of $376,650.00. Following the completion of the sale, the director now owns 13,870 shares in the company, valued at approximately $1,044,827.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup lifted 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. Susquehanna restated a “positive” rating on shares of Textron in a report on Friday, October 27th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a report on Friday, October 27th. Bank of America lifted their price objective on shares of Textron from $76.00 to $85.00 and gave the company a “neutral” rating in a report on Tuesday, August 15th. Finally, Morgan Stanley lifted their price objective on shares of Textron from $86.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.71.

Textron Stock Up 0.8 %

Shares of Textron stock opened at $77.40 on Friday. Textron Inc. has a 52-week low of $61.27 and a 52-week high of $81.39. The company has a 50 day moving average of $77.04 and a 200 day moving average of $72.16. The company has a quick ratio of 0.92, a current ratio of 1.88 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $15.17 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.18 and a beta of 1.40.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, October 26th. The aerospace company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.22. Textron had a net margin of 7.07% and a return on equity of 14.70%. The company had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the previous year, the firm earned $1.06 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, research analysts forecast that Textron Inc. will post 5.54 EPS for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron’s dividend payout ratio is presently 1.72%.

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.