Bridgefront Capital LLC Buys Shares of 4,032 Textron Inc. (NYSE:TXT)

Bridgefront Capital LLC purchased 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. The institutional investor purchased 4,032 shares of the aerospace company’s stock, valued at approximately $308,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TXT. SBI Securities Co. Ltd. bought a new stake in Textron during the 4th quarter valued at $31,000. Eastern Bank bought a new stake in Textron during the fourth quarter valued at about $42,000. Optiver Holding B.V. purchased a new position in Textron in the fourth quarter valued at about $56,000. Golden State Wealth Management LLC bought a new position in Textron in the fourth quarter worth about $63,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Textron during the fourth quarter valued at about $68,000. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Up 0.8 %

TXT opened at $70.05 on Thursday. The company has a fifty day moving average of $69.77 and a two-hundred day moving average of $76.12. 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 Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The stock has a market capitalization of $12.65 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 1.18 and a beta of 1.20.

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, topping analysts’ consensus estimates of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. Textron’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts expect that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s payout ratio is presently 1.81%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a research report on Monday, April 28th. JPMorgan Chase & Co. lowered their price target on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Bank of America cut Textron from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. TD Cowen upgraded Textron to a “hold” rating in a research report on Monday, February 24th. Finally, Susquehanna cut their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $87.70.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.70% of the company’s stock.

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.