Bright Futures Wealth Management LLC. Acquires 605 Shares of Textron Inc. (NYSE:TXT)

Bright Futures Wealth Management LLC. grew its stake in Textron Inc. (NYSE:TXT) by 10.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,521 shares of the aerospace company’s stock after purchasing an additional 605 shares during the period. Bright Futures Wealth Management LLC.’s holdings in Textron were worth $569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of TXT. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Textron by 677.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock worth $44,000 after acquiring an additional 474 shares in the last quarter. Spire Wealth Management boosted its stake in Textron by 90.3% in the fourth quarter. Spire Wealth Management now owns 588 shares of the aerospace company’s stock worth $46,000 after purchasing an additional 279 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Textron by 1.9% during the fourth quarter. Private Advisor Group LLC now owns 14,388 shares of the aerospace company’s stock worth $1,157,000 after purchasing an additional 274 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of Textron in the fourth quarter valued at $385,000. Finally, Principal Securities Inc. bought a new position in shares of Textron in the fourth quarter valued at about $78,000. 86.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley lowered Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research report on Thursday, August 8th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 4th. UBS Group lifted their price target on shares of Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research report on Friday, July 19th. Finally, TD Cowen increased their price objective on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.50.

Textron Stock Performance

Shares of NYSE:TXT opened at $86.88 on Tuesday. The firm’s 50 day simple moving average is $88.57 and its 200 day simple moving average is $89.35. Textron Inc. has a fifty-two week low of $74.13 and a fifty-two week high of $97.33. The company has a market capitalization of $16.28 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 1.36 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 0.81.

Textron (NYSE:TXT) last issued its earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.56 billion. Textron had a net margin of 6.67% and a return on equity of 16.41%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 earnings per share. As a group, sell-side analysts forecast that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s dividend payout ratio is presently 1.71%.

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.