Bank of Montreal Can Buys 772 Shares of Textron Inc. (NYSE:TXT)

Bank of Montreal Can boosted its stake in shares of Textron Inc. (NYSE:TXT) by 0.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,615 shares of the aerospace company’s stock after purchasing an additional 772 shares during the quarter. Bank of Montreal Can owned about 0.10% of Textron worth $16,726,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC raised its holdings in Textron by 57.2% in the 1st quarter. Lazard Asset Management LLC now owns 695 shares of the aerospace company’s stock worth $66,000 after acquiring an additional 253 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Textron by 17.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 4,402 shares of the aerospace company’s stock valued at $422,000 after purchasing an additional 640 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Textron by 57.0% in the first quarter. Tidal Investments LLC now owns 10,868 shares of the aerospace company’s stock worth $1,043,000 after purchasing an additional 3,946 shares during the period. Atria Investments Inc acquired a new position in shares of Textron during the 1st quarter worth about $1,204,000. Finally, Cetera Investment Advisers boosted its stake in Textron by 579.5% during the 1st quarter. Cetera Investment Advisers now owns 50,684 shares of the aerospace company’s stock valued at $4,862,000 after purchasing an additional 43,225 shares during the period. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

TXT has been the subject of several research analyst reports. TD Cowen cut shares of Textron from a “buy” rating to a “hold” rating and cut their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research note on Thursday, August 8th. Robert W. Baird dropped their price objective on shares of Textron from $109.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, UBS Group dropped their price target on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Textron Trading Up 0.6 %

TXT stock opened at $85.63 on Friday. The business has a fifty day moving average price of $85.73 and a 200 day moving average price of $87.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. Textron Inc. has a fifty-two week low of $74.61 and a fifty-two week high of $97.33. The stock has a market capitalization of $15.89 billion, a price-to-earnings ratio of 18.82, a P/E/G ratio of 1.53 and a beta of 1.24.

Textron (NYSE:TXT) last announced its earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.09). Textron had a net margin of 6.30% and a return on equity of 16.02%. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter last year, the business posted $1.49 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts expect that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, December 13th. Textron’s dividend payout ratio is 1.76%.

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.