Mather Group LLC. Raises Holdings in Textron Inc. (NYSE:TXT)

Mather Group LLC. grew its position in shares of Textron Inc. (NYSE:TXT) by 437.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,717 shares of the aerospace company’s stock after purchasing an additional 3,839 shares during the period. Mather Group LLC.’s holdings in Textron were worth $405,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TXT. Global Retirement Partners LLC increased its holdings in Textron by 52.6% during the fourth quarter. Global Retirement Partners LLC now owns 746 shares of the aerospace company’s stock valued at $58,000 after buying an additional 257 shares during the period. DAVENPORT & Co LLC lifted its position in Textron by 20.9% during the fourth quarter. DAVENPORT & Co LLC now owns 8,498 shares of the aerospace company’s stock valued at $683,000 after purchasing an additional 1,470 shares during the period. Asset Management One Co. Ltd. lifted its position in Textron by 1.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 75,320 shares of the aerospace company’s stock valued at $6,082,000 after purchasing an additional 877 shares during the period. Allworth Financial LP raised its position in shares of Textron by 12.0% in the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock worth $103,000 after acquiring an additional 137 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of Textron by 0.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 106,273 shares of the aerospace company’s stock worth $8,546,000 after acquiring an additional 400 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. UBS Group boosted their target price on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. Bank of America boosted their target price on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group upped their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, TD Cowen increased their target price on shares of Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.63.

Insider Activity

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the sale, the director now owns 3,756 shares in the company, valued at $330,189.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Textron Trading Down 0.4 %

TXT stock traded down $0.31 during midday trading on Tuesday, reaching $84.57. 898,043 shares of the company’s stock traded hands, compared to its average volume of 1,123,552. The business has a 50-day moving average price of $87.78 and a two-hundred day moving average price of $88.93. Textron Inc. has a fifty-two week low of $73.78 and a fifty-two week high of $97.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.66. The company has a market capitalization of $16.13 billion, a P/E ratio of 18.07, a PEG ratio of 1.39 and a beta of 1.25.

Textron (NYSE:TXT) last posted its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.46 earnings per share. Equities research analysts forecast that Textron Inc. will post 6.26 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date is Friday, September 13th. Textron’s dividend payout ratio is 1.71%.

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.