85,133 Shares in Textron Inc. (NYSE:TXT) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new position in Textron Inc. (NYSE:TXT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 85,133 shares of the aerospace company’s stock, valued at approximately $6,512,000.

A number of other hedge funds also recently modified their holdings of TXT. Atria Investments Inc increased its position in shares of Textron by 2.5% in the third quarter. Atria Investments Inc now owns 12,282 shares of the aerospace company’s stock worth $1,088,000 after purchasing an additional 299 shares during the period. Apollon Wealth Management LLC increased its position in shares of Textron by 4.9% in the third quarter. Apollon Wealth Management LLC now owns 2,655 shares of the aerospace company’s stock worth $235,000 after purchasing an additional 125 shares during the period. KBC Group NV bought a new position in Textron in the third quarter valued at about $1,797,000. CIBC Asset Management Inc grew its position in Textron by 6.7% in the third quarter. CIBC Asset Management Inc now owns 27,528 shares of the aerospace company’s stock valued at $2,438,000 after acquiring an additional 1,728 shares during the last quarter. Finally, Empirical Finance LLC grew its position in Textron by 1.7% in the third quarter. Empirical Finance LLC now owns 7,047 shares of the aerospace company’s stock valued at $624,000 after acquiring an additional 115 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction that occurred on 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 directly owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by insiders.

Textron Price Performance

Textron stock opened at $73.38 on Monday. The stock’s 50 day moving average is $75.06 and its 200 day moving average is $81.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The firm has a market cap of $13.33 billion, a P/E ratio of 17.02, a P/E/G ratio of 1.18 and a beta of 1.27. Textron Inc. has a one year low of $70.14 and a one year high of $97.34.

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

Textron Announces Dividend

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

Analysts Set New Price Targets

TXT has been the topic of a number of recent analyst reports. Bank of America cut Textron from a “buy” rating to a “neutral” rating and decreased their target price for the company from $110.00 to $85.00 in a research report on Friday, January 24th. TD Cowen upgraded Textron to a “hold” rating in a research report on Monday, February 24th. Robert W. Baird decreased their target price on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Susquehanna decreased their target price on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.45.

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.