New Age Alpha Advisors LLC Makes New Investment in Textron Inc. (NYSE:TXT)

Key Points

• New Age Alpha Advisors LLC invested approximately $2.11 million in Textron Inc., acquiring 29,208 shares during the first quarter.
• Textron reported a net margin of 5.80% and earnings per share of $1.55, exceeding analysts' expectations by $0.10.
• Several investment firms, including **UBS and Barclays**, have revised their price targets for Textron, with the average price target now sitting at $92.67.

New Age Alpha Advisors LLC acquired a new stake in shares of Textron Inc. (NYSE:TXT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 29,208 shares of the aerospace company's stock, valued at approximately $2,110,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Resona Asset Management Co. Ltd. purchased a new stake in Textron during the fourth quarter valued at about $4,129,000. Bank of Montreal Can raised its holdings in Textron by 3.8% in the fourth quarter. Bank of Montreal Can now owns 197,855 shares of the aerospace company's stock valued at $15,134,000 after buying an additional 7,240 shares during the period. Applied Finance Capital Management LLC purchased a new position in Textron in the fourth quarter valued at approximately $354,000. Raymond James Financial Inc. acquired a new position in Textron during the fourth quarter valued at approximately $41,451,000. Finally, Neuberger Berman Group LLC lifted its position in Textron by 1.6% during the fourth quarter. Neuberger Berman Group LLC now owns 781,194 shares of the aerospace company's stock valued at $59,754,000 after buying an additional 12,175 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Stock Down 0.5%

Shares of Textron stock traded down $0.35 during trading on Friday, reaching $77.03. The company had a trading volume of 744,906 shares, compared to its average volume of 1,930,417. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. Textron Inc. has a fifty-two week low of $57.70 and a fifty-two week high of $91.48. The firm's fifty day moving average is $79.70 and its 200-day moving average is $74.69. The company has a market cap of $13.73 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 1.26 and a beta of 1.16.

Textron (NYSE:TXT - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. The firm had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.64 billion. Textron had a return on equity of 14.26% and a net margin of 5.80%. Textron's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.54 earnings per share. On average, analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron's dividend payout ratio (DPR) is presently 1.81%.

Insider Activity

In other news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $79.37, for a total value of $2,265,457.91. Following the completion of the transaction, the executive vice president directly owned 37,624 shares of the company's stock, valued at approximately $2,986,216.88. The trade was a 43.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TXT. Wall Street Zen lowered shares of Textron from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 26th. Morgan Stanley boosted their price objective on Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Citigroup lowered their target price on Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Jefferies Financial Group reissued a "buy" rating and set a $95.00 price target (up from $85.00) on shares of Textron in a research report on Thursday, June 12th. Finally, UBS Group upgraded shares of Textron from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $73.00 to $88.00 in a research note on Monday, July 28th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $92.67.

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.