Graham Capital Management L.P. lifted its stake in Textron Inc. (NYSE:TXT - Free Report) by 166.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 67,000 shares of the aerospace company's stock after purchasing an additional 41,888 shares during the quarter. Graham Capital Management L.P.'s holdings in Textron were worth $5,125,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in shares of Textron in the 4th quarter valued at $31,000. Eastern Bank purchased a new stake in Textron in the 4th quarter worth $42,000. Optiver Holding B.V. purchased a new stake in Textron in the 4th quarter worth $56,000. Golden State Wealth Management LLC purchased a new stake in Textron in the 4th quarter worth $63,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in Textron in the 4th quarter worth $68,000. 86.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on TXT. Robert W. Baird dropped their target price on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. TD Cowen raised shares of Textron to a "hold" rating in a report on Monday, February 24th. Bank of America lowered shares of Textron from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $110.00 to $85.00 in a report on Friday, January 24th. JPMorgan Chase & Co. lowered their price target on shares of Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Finally, UBS Group upped their price objective on shares of Textron from $62.00 to $63.00 and gave the company a "sell" rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $87.70.
Read Our Latest Stock Analysis on Textron
Insider Buying and Selling at Textron
In other news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. This represents a 23.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.70% of the stock is owned by insiders.
Textron Stock Up 0.8%
NYSE:TXT traded up $0.64 during mid-day trading on Tuesday, hitting $77.44. The stock had a trading volume of 146,367 shares, compared to its average volume of 1,192,563. The stock has a 50-day simple moving average of $69.86 and a two-hundred day simple moving average of $75.74. The company has a market capitalization of $13.98 billion, a PE ratio of 17.98, a PEG ratio of 1.18 and a beta of 1.20. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $94.57. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.
Textron (NYSE:TXT - Get Free Report) last announced its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.31 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same period in the previous year, the company posted $1.20 EPS. The company's quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.
Textron Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $0.02 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. Textron's dividend payout ratio (DPR) is 1.81%.
Textron Profile
(
Free Report)
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.
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