Marietta Wealth Management LLC Buys 1,584 Shares of Textron Inc. (NYSE:TXT)

Marietta Wealth Management LLC increased its stake in Textron Inc. (NYSE:TXT) by 5.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 32,383 shares of the aerospace company’s stock after acquiring an additional 1,584 shares during the quarter. Marietta Wealth Management LLC’s holdings in Textron were worth $2,868,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of Textron during the second quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Textron during the 2nd quarter worth $30,000. Oakworth Capital Inc. bought a new stake in Textron during the 2nd quarter valued at $31,000. Family Firm Inc. purchased a new stake in shares of Textron in the 2nd quarter worth $40,000. Finally, Truvestments Capital LLC bought a new position in shares of Textron during the 1st quarter worth $48,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TXT shares. Bank of America lifted their price objective on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. UBS Group upped their price target on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Thursday, September 12th. Citigroup upped their target price on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Textron has an average rating of “Hold” and an average target price of $102.75.

Textron Price Performance

Shares of TXT opened at $87.54 on Wednesday. The company has a 50 day moving average of $87.92 and a two-hundred day moving average of $88.24. The company has a quick ratio of 0.81, a current ratio of 1.79 and a debt-to-equity ratio of 0.47. Textron Inc. has a twelve month low of $74.13 and a twelve month high of $97.33. The company has a market cap of $16.40 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 1.47 and a beta of 1.23.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $0.02 per share. The ex-dividend date was Friday, September 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is 1.69%.

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.