Sequoia Financial Advisors LLC Makes New $209,000 Investment in Textron Inc. (NYSE:TXT)

Sequoia Financial Advisors LLC purchased a new position in shares of Textron Inc. (NYSE:TXTFree Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,669 shares of the aerospace company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TXT. Money Concepts Capital Corp lifted its position in Textron by 109.0% during the 4th quarter. Money Concepts Capital Corp now owns 443 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 231 shares during the period. CENTRAL TRUST Co raised its stake in shares of Textron by 100.0% during the 3rd quarter. CENTRAL TRUST Co now owns 600 shares of the aerospace company’s stock valued at $35,000 after buying an additional 300 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Textron by 393.9% during the 3rd quarter. Global Retirement Partners LLC now owns 489 shares of the aerospace company’s stock valued at $37,000 after buying an additional 390 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Textron during the 1st quarter valued at about $40,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Textron during the 1st quarter valued at about $63,000. Institutional investors and hedge funds own 85.92% of the company’s stock.

Textron Price Performance

NYSE:TXT opened at $87.20 on Monday. Textron Inc. has a 12 month low of $61.27 and a 12 month high of $88.40. The stock has a 50 day moving average of $80.70 and a two-hundred day moving average of $78.30. The company has a current ratio of 1.77, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. The firm has a market cap of $17.09 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 1.17 and a beta of 1.29.

Textron (NYSE:TXTGet Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.53 by $0.07. Textron had a return on equity of 16.05% and a net margin of 6.73%. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the previous year, the business earned $1.07 EPS. Textron’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts expect that Textron Inc. will post 6.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Citigroup lifted their price objective on Textron from $102.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. lifted their price objective on Textron from $84.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, December 20th. StockNews.com upgraded Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group restated a “buy” rating and issued a $98.00 price target on shares of Textron in a research note on Tuesday, January 2nd. Finally, Morgan Stanley lifted their price target on Textron from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Textron presently has an average rating of “Moderate Buy” and a consensus price target of $87.50.

Check Out Our Latest Report on TXT

Textron Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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