EntryPoint Capital LLC Raises Position in Textron Inc. (NYSE:TXT)

EntryPoint Capital LLC boosted its position in Textron Inc. (NYSE:TXT) by 157.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,248 shares of the aerospace company’s stock after purchasing an additional 4,438 shares during the period. EntryPoint Capital LLC’s holdings in Textron were worth $554,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Merit Financial Group LLC increased its holdings in Textron by 5.9% in the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company’s stock worth $366,000 after acquiring an additional 265 shares during the last quarter. Empowered Funds LLC boosted its position in Textron by 28.6% during the fourth quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company’s stock worth $1,540,000 after purchasing an additional 4,480 shares during the period. Franklin Resources Inc. increased its stake in shares of Textron by 10.3% in the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company’s stock worth $14,505,000 after purchasing an additional 15,294 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Textron by 44.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company’s stock valued at $1,343,000 after purchasing an additional 5,367 shares during the period. Finally, Todd Asset Management LLC lifted its stake in shares of Textron by 1.8% during the 4th quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock valued at $35,973,000 after buying an additional 8,198 shares in the last quarter. 86.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction on 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 owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Monday, January 6th. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Robert W. Baird cut their target price on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Morgan Stanley decreased their price target on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.45.

Textron Price Performance

Shares of NYSE:TXT opened at $74.23 on Tuesday. Textron Inc. has a one year low of $70.14 and a one year high of $97.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The firm has a market capitalization of $13.48 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.18 and a beta of 1.27. The company’s fifty day moving average price is $74.83 and its 200-day moving average price is $80.51.

Textron (NYSE:TXT) last issued its quarterly earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 earnings per share. On average, equities research analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s payout ratio is currently 1.86%.

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.