Crestline Management LP Makes New Investment in Textron Inc. (NYSE:TXT)

Crestline Management LP purchased a new position in shares of Textron Inc. (NYSE:TXT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,696 shares of the aerospace company's stock, valued at approximately $359,000.

A number of other large investors have also recently made changes to their positions in the company. Cetera Investment Advisers increased its stake in shares of Textron by 8.3% during the fourth quarter. Cetera Investment Advisers now owns 52,717 shares of the aerospace company's stock worth $4,032,000 after buying an additional 4,024 shares during the period. Centiva Capital LP increased its stake in shares of Textron by 140.9% during the fourth quarter. Centiva Capital LP now owns 23,493 shares of the aerospace company's stock worth $1,797,000 after buying an additional 13,740 shares during the period. BOKF NA increased its stake in shares of Textron by 6.6% during the fourth quarter. BOKF NA now owns 43,968 shares of the aerospace company's stock worth $3,326,000 after buying an additional 2,708 shares during the period. Bridgefront Capital LLC purchased a new stake in shares of Textron during the fourth quarter worth approximately $308,000. Finally, Captrust Financial Advisors increased its stake in shares of Textron by 22.2% during the fourth quarter. Captrust Financial Advisors now owns 88,003 shares of the aerospace company's stock worth $6,731,000 after buying an additional 15,967 shares during the period. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Performance

Shares of TXT stock traded up $0.50 during mid-day trading on Friday, hitting $76.50. The stock had a trading volume of 285,506 shares, compared to its average volume of 1,205,826. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $94.57. The firm has a market cap of $13.81 billion, a PE ratio of 17.75, a PEG ratio of 1.18 and a beta of 1.20. 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 company's 50-day simple moving average is $69.93 and its 200-day simple moving average is $75.69.

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

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend is Friday, June 13th. Textron's dividend payout ratio (DPR) is 1.81%.

Insider Activity 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TXT. Bank of America lowered shares of Textron from a "buy" rating to a "neutral" rating and cut their target price for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. TD Cowen raised shares of Textron to a "hold" rating in a report on Monday, February 24th. Citigroup cut their price objective on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. cut their price objective on shares of Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, UBS Group raised their price objective on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Textron currently has an average rating of "Hold" and a consensus price target of $87.70.

Textron 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.