Cerity Partners LLC Invests $508,000 in Textron Inc. (NYSE:TXT)

Cerity Partners LLC purchased a new position in Textron Inc. (NYSE:TXT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,309 shares of the aerospace company’s stock, valued at approximately $508,000.

A number of other hedge funds have also modified their holdings of the stock. Allworth Financial LP increased its stake 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 last quarter. Quent Capital LLC increased its stake in shares of Textron by 29.2% in the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock worth $51,000 after acquiring an additional 143 shares during the last quarter. Financial Advocates Investment Management increased its stake in shares of Textron by 3.3% in the third quarter. Financial Advocates Investment Management now owns 5,208 shares of the aerospace company’s stock worth $407,000 after acquiring an additional 168 shares during the last quarter. Greenleaf Trust increased its stake in shares of Textron by 4.0% in the third quarter. Greenleaf Trust now owns 4,401 shares of the aerospace company’s stock worth $344,000 after acquiring an additional 171 shares during the last quarter. Finally, Prosperity Financial Group Inc. increased its stake in shares of Textron by 5.4% in the third quarter. Prosperity Financial Group Inc. now owns 3,497 shares of the aerospace company’s stock worth $273,000 after acquiring an additional 179 shares during the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on TXT. UBS Group increased their target price on shares of Textron from $77.00 to $81.00 and gave the stock a “sell” rating in a research report on Friday, January 26th. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $105.00 in a research report on Friday, March 8th. The Goldman Sachs Group boosted their target price on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Citigroup upped their target price on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.63.

Textron Price Performance

TXT opened at $94.00 on Thursday. Textron Inc. has a one year low of $61.27 and a one year high of $97.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03. The company’s 50 day simple moving average is $92.11 and its 200-day simple moving average is $83.81. The stock has a market capitalization of $18.08 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 1.48 and a beta of 1.30.

Textron (NYSE:TXT) last released its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The business had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the prior year, the firm earned $1.07 earnings per share. Textron’s revenue was up 7.0% compared to the same quarter last year. Sell-side analysts anticipate that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio is currently 1.75%.

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.