Richard P Slaughter Associates Inc Raises Stock Holdings in Textron Inc. (NYSE:TXT)

Richard P Slaughter Associates Inc lifted its holdings in Textron Inc. (NYSE:TXT) by 3.4% in the fourth quarter, HoldingsChannel reports. The firm owned 34,214 shares of the aerospace company’s stock after purchasing an additional 1,133 shares during the quarter. Richard P Slaughter Associates Inc’s holdings in Textron were worth $2,617,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Choreo LLC purchased a new position in shares of Textron in the 2nd quarter worth $239,000. Oppenheimer Asset Management Inc. grew its position in Textron by 7.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 3,775 shares of the aerospace company’s stock worth $324,000 after acquiring an additional 256 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Textron by 9.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 75,950 shares of the aerospace company’s stock worth $6,521,000 after acquiring an additional 6,785 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Textron by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,808,600 shares of the aerospace company’s stock worth $241,152,000 after acquiring an additional 160,923 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in Textron by 1.3% during the second quarter. Citizens Financial Group Inc. RI now owns 65,327 shares of the aerospace company’s stock valued at $5,609,000 after purchasing an additional 808 shares during the period. Institutional investors own 86.03% of the company’s stock.

Textron Stock Up 1.2 %

Textron stock opened at $77.88 on Wednesday. Textron Inc. has a 1-year low of $74.89 and a 1-year high of $97.33. The business has a fifty day moving average price of $81.31 and a 200-day moving average price of $85.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The stock has a market capitalization of $14.45 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.46 and a beta of 1.27.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the business earned $1.49 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities research analysts forecast that Textron Inc. will post 5.52 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron’s dividend payout ratio is currently 1.76%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Robert W. Baird cut their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Vertical Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Monday, January 6th. UBS Group lowered their price target on Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. Susquehanna reduced their price objective on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, Barclays lowered their target price on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron has an average rating of “Moderate Buy” and a consensus target price of $98.64.

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.