18,817 Shares in Textron Inc. (NYSE:TXT) Purchased by Amica Mutual Insurance Co.

Amica Mutual Insurance Co. acquired a new position in shares of Textron Inc. (NYSE:TXT) during the 4th quarter, Holdings Channel.com reports. The fund acquired 18,817 shares of the aerospace company’s stock, valued at approximately $1,513,000.

Other hedge funds have also bought and sold shares of the company. Lindbrook Capital LLC raised its holdings in Textron by 18.6% in the fourth quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock worth $62,000 after buying an additional 122 shares during the last quarter. Allworth Financial LP raised its holdings in Textron by 12.0% in the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock worth $103,000 after buying an additional 137 shares during the last quarter. Quent Capital LLC raised its holdings in Textron by 29.2% in the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock worth $51,000 after buying an additional 143 shares during the last quarter. Financial Advocates Investment Management raised its holdings in Textron by 3.3% in the third quarter. Financial Advocates Investment Management now owns 5,208 shares of the aerospace company’s stock worth $407,000 after buying an additional 168 shares during the last quarter. Finally, Greenleaf Trust raised its holdings in shares of Textron by 4.0% during the third quarter. Greenleaf Trust now owns 4,401 shares of the aerospace company’s stock valued at $344,000 after purchasing an additional 171 shares during the last quarter. Institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

TXT stock traded down $0.11 during midday trading on Monday, reaching $86.40. 1,674,794 shares of the company’s stock traded hands, compared to its average volume of 1,226,807. The stock has a market cap of $16.48 billion, a P/E ratio of 18.46, a PEG ratio of 1.36 and a beta of 1.30. Textron Inc. has a 52-week low of $61.27 and a 52-week high of $97.33. The stock’s 50-day moving average is $92.12 and its 200 day moving average is $83.98. 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 (NYSE:TXT) last posted its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 earnings per share 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 return on equity of 16.30% and a net margin of 6.75%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 earnings per share. As a group, analysts anticipate that Textron Inc. will post 6.29 EPS for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.02 dividend. 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 currently 1.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TXT shares. Bank of America raised shares of Textron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $105.00 in a report on Friday, March 8th. UBS Group boosted their price objective on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a report on Friday, January 26th. Susquehanna decreased their price objective on shares of Textron from $110.00 to $105.00 and set a “positive” rating for the company in a report on Friday. StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Citigroup upped their target price on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.63.

Textron 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.