Proficio Capital Partners LLC Purchases Shares of 85,133 Textron Inc. (NYSE:TXT)

Proficio Capital Partners LLC bought a new position in Textron Inc. (NYSE:TXT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 85,133 shares of the aerospace company's stock, valued at approximately $6,512,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TXT. True Wealth Design LLC bought a new stake in Textron in the third quarter valued at approximately $26,000. SBI Securities Co. Ltd. bought a new position in shares of Textron during the fourth quarter valued at approximately $31,000. Truvestments Capital LLC bought a new position in shares of Textron during the third quarter valued at approximately $43,000. Eastern Bank bought a new position in shares of Textron during the fourth quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Textron during the fourth quarter valued at approximately $63,000. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Stock Down 1.3 %

Shares of NYSE TXT traded down $0.95 during trading on Thursday, reaching $73.49. The company had a trading volume of 2,649,178 shares, compared to its average volume of 1,089,759. Textron Inc. has a 12-month low of $70.14 and a 12-month high of $97.34. The stock has a market cap of $13.35 billion, a PE ratio of 17.05, a P/E/G ratio of 1.18 and a beta of 1.27. The business's 50-day moving average is $74.98 and its 200 day moving average is $80.89. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Remove Ads

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The firm had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same period in the prior year, the firm posted $1.60 earnings per share. The company's quarterly revenue was down 7.2% on a year-over-year basis. As a group, equities analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. Textron's dividend payout ratio (DPR) is presently 1.86%.

Insider Activity at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares of the company's stock, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TXT has been the subject of a number of recent analyst reports. Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 target price for the company in a report on Monday, January 6th. Citigroup decreased their target price on Textron from $118.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their target price on Textron from $90.00 to $88.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Barclays decreased their price objective on Textron from $104.00 to $95.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Finally, Robert W. Baird decreased their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $93.45.

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.