Charter Oak Capital Management LLC Acquires Shares of 4,263 Textron Inc. (NYSE:TXT)

Charter Oak Capital Management LLC purchased a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,263 shares of the aerospace company's stock, valued at approximately $308,000.

Several other large investors also recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in Textron during the 4th quarter worth approximately $31,000. Optiver Holding B.V. acquired a new stake in shares of Textron during the fourth quarter worth about $56,000. Golden State Wealth Management LLC bought a new stake in Textron in the 4th quarter valued at $63,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Textron by 123.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 842 shares of the aerospace company's stock worth $61,000 after buying an additional 465 shares in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new position in Textron during the fourth quarter worth $68,000. Institutional investors own 86.03% of the company's stock.

Textron Trading Down 1.4%

Shares of Textron stock traded down $1.06 on Wednesday, reaching $76.79. 893,689 shares of the company's stock were exchanged, compared to its average volume of 1,224,349. 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 52 week low of $57.70 and a 52 week high of $94.57. The firm's 50-day moving average is $70.51 and its two-hundred day moving average is $74.43. The company has a market capitalization of $13.86 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Textron (NYSE:TXT - Get Free Report) last posted 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. 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 firm's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS. Sell-side analysts predict that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

The business also recently announced 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 of this dividend is Friday, June 13th. This represents a $0.08 annualized dividend and a dividend yield of 0.10%. Textron's payout ratio is 1.81%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TXT. TD Cowen raised Textron to a "hold" rating in a research report on Monday, February 24th. UBS Group increased their target price 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. Citigroup cut their price target on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Morgan Stanley lowered their price objective on Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. One 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's stock. According to data from MarketBeat, the stock currently has a consensus 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.