Merit Financial Group LLC cut its stake in Textron Inc. (NYSE:TXT – Free Report) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,702 shares of the aerospace company’s stock after selling 200 shares during the quarter. Merit Financial Group LLC’s holdings in Textron were worth $332,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of TXT. Ronald Blue Trust Inc. boosted its stake in shares of Textron by 15.3% in the 4th quarter. Ronald Blue Trust Inc. now owns 1,161 shares of the aerospace company’s stock valued at $67,000 after purchasing an additional 154 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Textron by 1.8% in the 4th quarter. Synovus Financial Corp now owns 9,570 shares of the aerospace company’s stock valued at $678,000 after purchasing an additional 171 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Textron by 0.7% in the 1st quarter. Yousif Capital Management LLC now owns 26,689 shares of the aerospace company’s stock valued at $1,985,000 after buying an additional 175 shares during the last quarter. SVB Wealth LLC raised its holdings in Textron by 1.0% in the 4th quarter. SVB Wealth LLC now owns 18,565 shares of the aerospace company’s stock valued at $1,314,000 after buying an additional 183 shares during the last quarter. Finally, Advisor Partners II LLC raised its holdings in Textron by 1.8% in the 4th quarter. Advisor Partners II LLC now owns 12,381 shares of the aerospace company’s stock valued at $877,000 after buying an additional 218 shares during the last quarter. 86.77% of the stock is owned by institutional investors.
Textron Stock Up 0.8 %
Shares of NYSE TXT opened at $67.53 on Monday. The company has a market capitalization of $13.62 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 1.19 and a beta of 1.48. Textron Inc. has a 52-week low of $57.96 and a 52-week high of $76.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.90. The company’s 50 day moving average price is $65.24 and its 200-day moving average price is $68.69.
Textron Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Friday, June 9th were given a dividend of $0.02 per share. The ex-dividend date was Thursday, June 8th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. Textron’s payout ratio is presently 1.98%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on TXT. StockNews.com began coverage on shares of Textron in a report on Thursday, May 18th. They issued a “buy” rating for the company. Citigroup began coverage on shares of Textron in a report on Thursday. They issued a “buy” rating and a $90.00 price objective for the company. Vertical Research lowered shares of Textron from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a report on Wednesday, May 24th. Finally, Wolfe Research began coverage on shares of Textron in a report on Thursday, April 6th. They issued a “peer perform” rating for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Textron presently has an average rating of “Moderate Buy” and a consensus target price of $81.25.
Textron Company 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.
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