HighTower Advisors LLC Has $19.59 Million Stock Position in Textron Inc. (NYSE:TXT)

HighTower Advisors LLC boosted its stake in Textron Inc. (NYSE:TXT) by 0.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 256,087 shares of the aerospace company’s stock after buying an additional 1,812 shares during the period. HighTower Advisors LLC owned approximately 0.14% of Textron worth $19,588,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Empirical Finance LLC grew its stake in Textron by 1.7% in the 3rd quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after buying an additional 115 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in Textron by 4.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after purchasing an additional 125 shares during the period. Pflug Koory LLC boosted its holdings in Textron by 0.9% in the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after purchasing an additional 125 shares during the period. V Square Quantitative Management LLC boosted its holdings in Textron by 5.7% in the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock valued at $200,000 after purchasing an additional 141 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in Textron by 5.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after purchasing an additional 163 shares during the period. Institutional investors and hedge funds own 86.03% of the company’s stock.

Textron Price Performance

Shares of NYSE:TXT opened at $73.38 on Friday. The company has a market cap of $13.33 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.18 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $75.06 and a 200 day simple moving average of $81.22. Textron Inc. has a one year low of $70.14 and a one year high of $97.34.

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

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s dividend payout ratio (DPR) is currently 1.86%.

Insider Buying and Selling at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TXT shares. TD Cowen raised shares of Textron to a “hold” rating in a report on Monday, February 24th. Barclays cut their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Bank of America downgraded shares of Textron from a “buy” rating to a “neutral” rating and cut their price objective for the company from $110.00 to $85.00 in a report on Friday, January 24th. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target for the company in a report on Monday, January 6th. Finally, Robert W. Baird cut their price target on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

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.