Jones Financial Companies Lllp Purchases 1,293 Shares of Textron Inc. (NYSE:TXT)

Jones Financial Companies Lllp increased its position in shares of Textron Inc. (NYSE:TXT) by 72.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,069 shares of the aerospace company’s stock after purchasing an additional 1,293 shares during the quarter. Jones Financial Companies Lllp’s holdings in Textron were worth $235,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC bought a new stake in Textron during the third quarter worth about $26,000. Eastern Bank bought a new position in shares of Textron in the fourth quarter worth about $42,000. Truvestments Capital LLC bought a new position in shares of Textron in the third quarter worth about $43,000. Venturi Wealth Management LLC lifted its holdings in shares of Textron by 69.5% in the third quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after acquiring an additional 232 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Textron in the fourth quarter worth about $63,000. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

Shares of TXT stock opened at $72.03 on Friday. The company has a market cap of $13.08 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 1.18 and a beta of 1.26. Textron Inc. has a 52 week low of $70.14 and a 52 week high of $97.34. 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 50 day moving average of $75.18 and a 200-day moving average of $81.46.

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

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued 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 is Friday, March 14th. Textron’s dividend payout ratio is currently 1.86%.

Insider Buying and Selling

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 value of $396,178.68. Following the transaction, the vice president now directly owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America cut shares of 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 objective for the company in a research note on Monday, January 6th. Robert W. Baird lowered their price objective on Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Barclays lowered their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Finally, Morgan Stanley lowered their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. One equities 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.