Applied Finance Capital Management LLC Buys New Position in Textron Inc. (NYSE:TXT)

Applied Finance Capital Management LLC acquired a new stake in Textron Inc. (NYSE:TXT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,626 shares of the aerospace company's stock, valued at approximately $354,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of Textron during the fourth quarter worth approximately $31,000. Eastern Bank acquired a new position in Textron during the 4th quarter worth $42,000. Golden State Wealth Management LLC bought a new position in shares of Textron in the fourth quarter worth $63,000. McClarren Financial Advisors Inc. acquired a new position in shares of Textron during the fourth quarter valued at $68,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Textron by 33.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock valued at $74,000 after purchasing an additional 239 shares in the last quarter. 86.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TXT has been the topic of several research analyst reports. Citigroup lowered their target price on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday. Morgan Stanley lowered their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating on the stock in a research note on Friday. TD Cowen upgraded Textron to a "hold" rating in a research report on Monday, February 24th. Bank of America cut Textron from a "buy" rating to a "neutral" rating and lowered their price target for the company from $110.00 to $85.00 in a research report on Friday, January 24th. Finally, Barclays cut 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. One investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $92.09.

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Insider Activity at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction that occurred on Monday, February 24th. The shares were 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 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 document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.

Textron Trading Up 0.0 %

Shares of TXT stock traded up $0.02 during trading hours on Monday, reaching $65.70. 334,908 shares of the stock traded hands, compared to its average volume of 1,493,095. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $11.93 billion, a PE ratio of 15.24, a PEG ratio of 1.18 and a beta of 1.06. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $95.86. The business has a fifty day moving average price of $71.70 and a 200 day moving average price of $78.41.

Textron (NYSE:TXT - Get Free Report) last released its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. The company's revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities research analysts forecast that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Friday, March 14th. Textron's dividend payout ratio is 1.86%.

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.