SBI Securities Co. Ltd. Buys New Stake in Textron Inc. (NYSE:TXT)

SBI Securities Co. Ltd. bought a new stake in Textron Inc. (NYSE:TXT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 411 shares of the aerospace company’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TXT. Empirical Finance LLC raised its holdings in shares of Textron by 1.7% during the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after buying an additional 115 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in shares of Textron by 4.9% during the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock valued at $235,000 after buying an additional 125 shares during the last quarter. Pflug Koory LLC increased its stake in shares of Textron by 0.9% during the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock valued at $1,054,000 after acquiring an additional 125 shares during the period. V Square Quantitative Management LLC raised its holdings in Textron by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock worth $200,000 after purchasing an additional 141 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insider Activity

In related 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 value of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

Textron Stock Down 1.2 %

TXT stock opened at $72.74 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron Inc. has a 52-week low of $70.14 and a 52-week high of $97.34. The company has a 50-day moving average of $75.18 and a two-hundred day moving average of $81.46. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. As a group, equities research analysts anticipate that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

Analysts Set New Price Targets

Several brokerages recently commented on TXT. Bank of America cut 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. Vertical Research raised Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Monday, January 6th. Citigroup dropped their price target on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. TD Cowen raised Textron to a “hold” rating in a report on Monday, February 24th. Finally, Robert W. Baird dropped their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Textron currently has an average rating of “Moderate Buy” and an average price target of $93.45.

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.