Raymond James Trust N.A. Boosts Position in Textron Inc. (NYSE:TXT)

Raymond James Trust N.A. raised its stake in Textron Inc. (NYSE:TXT) by 105.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,376 shares of the aerospace company’s stock after buying an additional 3,779 shares during the period. Raymond James Trust N.A.’s holdings in Textron were worth $653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in shares of Textron in the second quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Textron in the 2nd quarter worth $30,000. Oakworth Capital Inc. bought a new position in shares of Textron during the 2nd quarter worth $31,000. Family Firm Inc. purchased a new position in shares of Textron during the second quarter valued at $40,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Textron in the third quarter valued at about $42,000. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Performance

TXT opened at $85.73 on Tuesday. The company has a market cap of $15.90 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 1.54 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 1.83 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $85.97 and its 200-day moving average price is $87.19. Textron Inc. has a 52-week low of $74.13 and a 52-week high of $97.33.

Textron (NYSE:TXT) last issued its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 earnings per share (EPS) 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 company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the previous year, the company posted $1.49 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts anticipate that Textron Inc. will post 5.53 EPS for the current fiscal year.

Textron Announces Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on TXT. JPMorgan Chase & Co. cut 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. Morgan Stanley downgraded shares of Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research note on Thursday, August 8th. TD Cowen cut Textron from a “buy” rating to a “hold” rating and dropped their target price for the company from $103.00 to $95.00 in a research report on Wednesday, September 25th. StockNews.com lowered Textron from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Robert W. Baird dropped their price objective on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

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.