Bridgefront Capital LLC Acquires New Shares in Textron Inc. (NYSE:TXT)

Bridgefront Capital LLC acquired a new stake in Textron Inc. (NYSE:TXT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,686 shares of the aerospace company’s stock, valued at approximately $377,000.

Other large investors have also made changes to their positions in the company. CVA Family Office LLC acquired a new position in Textron in the 4th quarter worth $29,000. Trust Co. of Vermont acquired a new position in Textron in the 3rd quarter worth $37,000. Morton Brown Family Wealth LLC acquired a new position in Textron in the 4th quarter worth $40,000. Provence Wealth Management Group acquired a new position in Textron in the 3rd quarter worth $39,000. Finally, Jones Financial Companies Lllp boosted its stake in Textron by 200.0% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock worth $41,000 after purchasing an additional 338 shares during the period. Institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TXT. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $85.00 to $105.00 in a research note on Friday, March 8th. Citigroup increased their price objective on shares of Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. The Goldman Sachs Group increased their price objective on shares of Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Susquehanna reduced their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research note on Friday, April 26th. Finally, StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.29.

Textron Stock Up 1.2 %

NYSE TXT opened at $86.49 on Thursday. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. Textron Inc. has a 1-year low of $64.42 and a 1-year high of $97.33. The company has a 50 day moving average of $89.44 and a 200-day moving average of $86.22. The company has a market cap of $16.49 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.37 and a beta of 1.28.

Textron (NYSE:TXT) last announced its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.05 earnings per share. On average, equities research analysts expect that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. Textron’s payout ratio is presently 1.71%.

Insiders Place Their Bets

In related news, Director Kathleen M. Bader sold 11,870 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $87.91, for a total value of $1,043,491.70. Following the sale, the director now owns 3,756 shares of the company’s stock, valued at $330,189.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.

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.