Textron Inc. (NYSE:TXT) Shares Acquired by Twinbeech Capital LP

Twinbeech Capital LP increased its stake in Textron Inc. (NYSE:TXT) by 161.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,990 shares of the aerospace company’s stock after acquiring an additional 8,029 shares during the period. Twinbeech Capital LP’s holdings in Textron were worth $994,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TXT. SBI Securities Co. Ltd. acquired a new stake in Textron in the fourth quarter valued at $31,000. Optiver Holding B.V. acquired a new stake in Textron in the fourth quarter valued at $56,000. Golden State Wealth Management LLC acquired a new stake in Textron in the fourth quarter valued at $63,000. McClarren Financial Advisors Inc. acquired a new stake in Textron in the fourth quarter valued at $68,000. Finally, Geneos Wealth Management Inc. raised its stake in Textron by 33.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company’s stock valued at $74,000 after buying an additional 239 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley cut their price target 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. Citigroup cut their price target on Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Robert W. Baird cut their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. TD Cowen raised Textron to a “hold” rating in a report on Monday, February 24th. Finally, Bank of America lowered Textron from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $110.00 to $85.00 in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.70.

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the transaction, the vice president now owns 18,223 shares in the company, 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 SEC, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

Textron Stock Performance

Shares of TXT stock opened at $73.37 on Thursday. The stock’s 50-day moving average is $70.15 and its two-hundred day moving average is $75.53. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.18 and a beta of 1.20. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $94.57. 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 (NYSE:TXT) last issued its quarterly earnings data 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 company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.20 earnings per share. Analysts predict that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date is Friday, June 13th. Textron’s dividend payout ratio (DPR) is presently 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.