Textron Inc. (NYSE:TXT) Shares Bought by Prosperity Financial Group Inc.

Prosperity Financial Group Inc. raised its position in Textron Inc. (NYSE:TXT) by 7.9% in the 3rd quarter, Holdings Channel reports. The fund owned 4,582 shares of the aerospace company’s stock after acquiring an additional 335 shares during the period. Prosperity Financial Group Inc.’s holdings in Textron were worth $406,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in TXT. Empirical Finance LLC lifted its position in Textron by 1.7% in the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after purchasing an additional 115 shares during the period. Davis Investment Partners LLC lifted its holdings in shares of Textron by 0.8% in the 3rd quarter. Davis Investment Partners LLC now owns 14,828 shares of the aerospace company’s stock valued at $1,290,000 after buying an additional 118 shares during the period. Apollon Wealth Management LLC boosted its stake in shares of Textron by 4.9% in the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after buying an additional 125 shares in the last quarter. Altman Advisors Inc. grew its holdings in Textron by 0.6% during the second quarter. Altman Advisors Inc. now owns 22,057 shares of the aerospace company’s stock worth $1,894,000 after acquiring an additional 129 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Textron by 0.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,148 shares of the aerospace company’s stock worth $1,558,000 after acquiring an additional 146 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TXT shares. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. dropped their target price on shares of Textron from $100.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Robert W. Baird lowered their price target on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 target price on the stock. in a research report on Thursday, August 8th. Finally, UBS Group dropped their target price on shares of Textron from $87.00 to $79.00 and set a “sell” rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.56.

Textron Price Performance

Textron stock opened at $85.38 on Monday. The stock has a market capitalization of $15.84 billion, a P/E ratio of 18.76, a P/E/G ratio of 1.54 and a beta of 1.24. Textron Inc. has a 12-month low of $74.13 and a 12-month high of $97.33. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The firm’s 50-day moving average is $86.02 and its two-hundred day moving average is $87.21.

Textron (NYSE:TXT) last released its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the firm posted $1.49 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. Equities analysts predict that Textron Inc. will post 5.53 earnings per share for the current year.

Textron Dividend Announcement

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

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.