Bridgefront Capital LLC Takes $308,000 Position in Textron Inc. (NYSE:TXT)

Bridgefront Capital LLC acquired a new position in shares of Textron Inc. (NYSE:TXT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,032 shares of the aerospace company's stock, valued at approximately $308,000.

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

Insider Buying and Selling at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company's stock, valued at $1,324,447.64. The trade was a 23.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TXT has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Citigroup reduced their target price on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Robert W. Baird reduced their target price on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Morgan Stanley reduced their target price on Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Finally, Bank of America downgraded Textron from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $87.70.

Textron Stock Performance

Shares of NYSE TXT traded up $4.12 during mid-day trading on Monday, hitting $76.53. The company had a trading volume of 1,263,857 shares, compared to its average volume of 1,193,191. The stock has a market cap of $13.82 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.18 and a beta of 1.20. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $94.57. 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's 50 day simple moving average is $69.78 and its two-hundred day simple moving average is $75.78.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.11. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business's revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. As a group, equities research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.10%. The ex-dividend date is Friday, June 13th. Textron's payout ratio 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.