Integrated Wealth Concepts LLC Purchases Shares of 5,263 Textron Inc. (NYSE:TXT)

Integrated Wealth Concepts LLC purchased a new stake in Textron Inc. (NYSE:TXTGet Rating) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,263 shares of the aerospace company’s stock, valued at approximately $321,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clear Street Markets LLC boosted its position in Textron by 401.1% in the second quarter. Clear Street Markets LLC now owns 451 shares of the aerospace company’s stock valued at $28,000 after buying an additional 361 shares in the last quarter. Charter Oak Capital Management LLC acquired a new position in shares of Textron during the second quarter worth approximately $30,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Textron during the second quarter worth approximately $31,000. Allworth Financial LP lifted its position in shares of Textron by 53.0% during the second quarter. Allworth Financial LP now owns 560 shares of the aerospace company’s stock worth $34,000 after purchasing an additional 194 shares in the last quarter. Finally, Lindbrook Capital LLC acquired a new position in shares of Textron during the second quarter worth approximately $37,000. 87.80% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Down 2.1 %

Shares of NYSE:TXT opened at $69.38 on Tuesday. Textron Inc. has a 52 week low of $57.11 and a 52 week high of $79.45. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.17 and a current ratio of 2.22. The company has a market capitalization of $14.48 billion, a PE ratio of 17.93, a PEG ratio of 1.16 and a beta of 1.52. The company has a 50 day moving average price of $63.82 and a two-hundred day moving average price of $63.85.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 9th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Thursday, December 8th. Textron’s payout ratio is presently 2.07%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TXT shares. Cfra upped their target price on shares of Textron to $73.00 in a research report on Tuesday, August 9th. Bank of America reduced their target price on shares of Textron from $74.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. Sanford C. Bernstein initiated coverage on shares of Textron in a research note on Tuesday, September 13th. They set a “market perform” rating for the company. Susquehanna Bancshares dropped their price target on shares of Textron from $90.00 to $84.00 and set a “positive” rating for the company in a research note on Friday, July 29th. Finally, StockNews.com raised shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 6th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Textron currently has an average rating of “Moderate Buy” and a consensus target price of $79.40.

About Textron

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Textron Inc operates in the aircraft, defense, industrial, and finance businesses. The company's 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.

See Also

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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