FORA Capital LLC Takes $668,000 Position in Textron Inc. (NYSE:TXT)

FORA Capital LLC bought a new position in Textron Inc. (NYSE:TXT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,728 shares of the aerospace company’s stock, valued at approximately $668,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TXT. Pflug Koory LLC grew its holdings in shares of Textron by 0.9% during the 4th quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after purchasing an additional 125 shares during the last quarter. V Square Quantitative Management LLC boosted its position in Textron by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock valued at $200,000 after buying an additional 141 shares during the period. Syon Capital LLC increased its holdings in shares of Textron by 4.5% in the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company’s stock worth $271,000 after buying an additional 153 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Textron by 5.8% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock valued at $228,000 after acquiring an additional 163 shares during the last quarter. Finally, Motley Fool Asset Management LLC boosted its holdings in Textron by 6.3% during the 4th quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company’s stock valued at $209,000 after acquiring an additional 163 shares during the period. 86.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on TXT. UBS Group lifted their price target on Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a research note on Monday, April 28th. TD Cowen upgraded shares of Textron to a “hold” rating in a report on Monday, February 24th. Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $85.00 in a report on Friday, January 24th. Robert W. Baird dropped their target price on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $87.70.

Insider Buying and Selling

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the transaction, the vice president now directly owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by insiders.

Textron Stock Up 0.2 %

TXT stock opened at $72.36 on Friday. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The company has a market capitalization of $13.06 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. The business’s 50 day moving average price is $69.78 and its two-hundred day moving average price is $75.89. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. As a group, analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. Textron’s dividend payout ratio (DPR) is currently 1.81%.

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.