Smith Graham & Co. Investment Advisors LP Grows Stock Position in Textron Inc. (NYSE:TXT)

Smith Graham & Co. Investment Advisors LP raised its stake in shares of Textron Inc. (NYSE:TXT) by 7.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 106,900 shares of the aerospace company’s stock after buying an additional 7,220 shares during the period. Smith Graham & Co. Investment Advisors LP’s holdings in Textron were worth $4,768,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TXT. HM Payson & Co. acquired a new stake in Textron during the second quarter worth about $34,000. Covington Capital Management lifted its holdings in Textron by 130.2% in the third quarter. Covington Capital Management now owns 845 shares of the aerospace company’s stock valued at $41,000 after acquiring an additional 478 shares during the period. CSat Investment Advisory L.P. boosted its position in Textron by 87.3% in the 2nd quarter. CSat Investment Advisory L.P. now owns 884 shares of the aerospace company’s stock worth $47,000 after purchasing an additional 412 shares in the last quarter. Quest Capital Management Inc. ADV purchased a new stake in Textron in the 3rd quarter worth approximately $52,000. Finally, NEXT Financial Group Inc grew its stake in shares of Textron by 111.1% during the 3rd quarter. NEXT Financial Group Inc now owns 1,290 shares of the aerospace company’s stock worth $63,000 after purchasing an additional 679 shares during the period. 84.55% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on TXT. Zacks Investment Research lowered shares of Textron from a “hold” rating to a “strong sell” rating and set a $50.00 target price for the company. in a report on Friday, October 25th. Credit Suisse Group cut their price objective on shares of Textron from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, October 18th. Morgan Stanley upped their price objective on shares of Textron from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Vertical Research lowered Textron from a “buy” rating to a “hold” rating and cut their price target for the company from $56.00 to $54.00 in a research note on Friday, September 27th. Finally, Bank of America cut Textron from a “buy” rating to a “neutral” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $54.00.

Shares of NYSE TXT opened at $45.50 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.97 and a current ratio of 2.15. The firm has a fifty day moving average of $44.83 and a 200 day moving average of $47.15. The firm has a market cap of $10.53 billion, a PE ratio of 12.43, a PEG ratio of 1.35 and a beta of 1.69. Textron Inc. has a one year low of $42.30 and a one year high of $58.00.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. The company's Textron Aviation segment manufactures and sells business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and commercial parts, as well as provides maintenance, inspection, and repair services.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

Institutional Ownership by Quarter for Textron (NYSE:TXT)

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