Inscription Capital LLC Acquires Shares of 3,047 Textron Inc. (NYSE:TXT)

Inscription Capital LLC bought a new stake in shares of Textron Inc. (NYSE:TXT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,047 shares of the aerospace company’s stock, valued at approximately $220,000.

A number of other hedge funds also recently made changes to their positions in the business. Allworth Financial LP increased its holdings in Textron by 11.6% during the fourth quarter. Allworth Financial LP now owns 1,801 shares of the aerospace company’s stock worth $141,000 after buying an additional 187 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Textron by 3.9% during the 4th quarter. CIBC Asset Management Inc now owns 28,609 shares of the aerospace company’s stock valued at $2,188,000 after acquiring an additional 1,081 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Textron by 79.5% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,956 shares of the aerospace company’s stock worth $762,000 after purchasing an additional 4,409 shares during the last quarter. Elk River Wealth Management LLC raised its holdings in shares of Textron by 0.6% in the 4th quarter. Elk River Wealth Management LLC now owns 58,830 shares of the aerospace company’s stock worth $4,501,000 after purchasing an additional 379 shares during the period. Finally, Paradigm Asset Management Co. LLC lifted its stake in Textron by 2.8% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 11,200 shares of the aerospace company’s stock valued at $857,000 after purchasing an additional 300 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Textron Stock Down 0.4%

TXT opened at $76.58 on Thursday. The firm has a market capitalization of $13.82 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 1.25 and a beta of 1.16. Textron Inc. has a one year low of $57.70 and a one year high of $94.57. The company has a fifty day moving average price of $72.22 and a 200-day moving average price of $74.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.80 and a quick ratio of 0.83.

Textron (NYSE:TXT) last posted 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 return on equity of 14.77% and a net margin of 5.98%. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. Equities research analysts expect that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

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 paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s dividend payout ratio is currently 1.81%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup decreased their target price on Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Morgan Stanley decreased their price objective on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. TD Cowen raised shares of Textron to a “hold” rating in a report on Monday, February 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $95.00 target price (up previously from $85.00) on shares of Textron in a research note on Thursday, June 12th. Finally, UBS Group boosted their price target on shares of Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.36.

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.