Fullerton Fund Management Co Ltd. Buys New Shares in Textron Inc. (NYSE:TXT)

Fullerton Fund Management Co Ltd. purchased a new position in Textron Inc. (NYSE:TXT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,997 shares of the aerospace company’s stock, valued at approximately $612,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in Textron during the fourth quarter worth about $31,000. Eastern Bank acquired a new stake in shares of Textron during the 4th quarter worth approximately $42,000. Optiver Holding B.V. bought a new stake in shares of Textron during the fourth quarter valued at approximately $56,000. Golden State Wealth Management LLC acquired a new position in shares of Textron in the fourth quarter valued at $63,000. Finally, McClarren Financial Advisors Inc. bought a new position in Textron in the fourth quarter worth $68,000. Institutional investors own 86.03% of the company’s stock.

Analyst Ratings Changes

TXT has been the subject of a number of recent research reports. UBS Group increased their price objective on shares of Textron from $62.00 to $63.00 and gave the company a “sell” rating in a research note on Monday, April 28th. Citigroup dropped their price target on shares of Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $110.00 to $85.00 in a report on Friday, January 24th. TD Cowen upgraded Textron to a “hold” rating in a research report on Monday, February 24th. Finally, Robert W. Baird lowered their price target on Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $87.70.

Insider Buying and Selling at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.70% of the company’s stock.

Textron Price Performance

Textron stock opened at $72.36 on Friday. The business’s fifty day moving average is $69.78 and its two-hundred day moving average is $75.89. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The firm has a market cap of $13.06 billion, a P/E ratio of 16.79, a P/E/G ratio of 1.18 and a beta of 1.20. Textron Inc. has a 52 week low of $57.70 and a 52 week high of $94.57.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.11. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The company’s revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s dividend payout ratio (DPR) is presently 1.81%.

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.