Wealthfront Advisers LLC Purchases 139,173 Shares of Textron Inc. (NYSE:TXT)

Wealthfront Advisers LLC raised its holdings in shares of Textron Inc. (NYSE:TXT) by 384.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 175,347 shares of the aerospace company’s stock after buying an additional 139,173 shares during the quarter. Wealthfront Advisers LLC’s holdings in Textron were worth $13,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of TXT. Raymond James Financial Inc. bought a new stake in shares of Textron during the fourth quarter worth $41,451,000. International Assets Investment Management LLC bought a new stake in Textron in the 4th quarter valued at $11,523,000. Bank of New York Mellon Corp raised its holdings in Textron by 7.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock valued at $109,257,000 after acquiring an additional 104,982 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Textron by 161.8% during the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock worth $12,860,000 after buying an additional 89,724 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Textron in the 4th quarter worth about $6,512,000. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on TXT. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Monday, January 6th. Morgan Stanley lowered their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Susquehanna decreased their target price on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.45.

Insider Buying and Selling at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Textron Stock Down 2.3 %

Shares of NYSE:TXT opened at $73.67 on Wednesday. The stock has a market capitalization of $13.38 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26. Textron Inc. has a 1-year low of $70.14 and a 1-year high of $97.34. The company’s fifty day moving average is $75.25 and its two-hundred day moving average is $81.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT) last posted its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.07. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the firm posted $1.60 EPS. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s dividend payout ratio is currently 1.86%.

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.