New Jersey Better Educational Savings Trust Purchases Shares of 2,510 Textron Inc. (NYSE:TXT)

New Jersey Better Educational Savings Trust purchased a new stake in shares of Textron Inc. (NYSE:TXT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,510 shares of the aerospace company’s stock, valued at approximately $202,000.

Several other institutional investors have also added to or reduced their stakes in TXT. Lindbrook Capital LLC increased its stake in shares of Textron by 18.6% in the 4th quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 122 shares in the last quarter. Allworth Financial LP increased its stake in shares of Textron by 12.0% in the 4th quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock worth $103,000 after acquiring an additional 137 shares in the last quarter. Quent Capital LLC increased its stake in Textron by 29.2% during the 4th quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after purchasing an additional 143 shares in the last quarter. Financial Advocates Investment Management increased its stake in Textron by 3.3% during the 3rd quarter. Financial Advocates Investment Management now owns 5,208 shares of the aerospace company’s stock valued at $407,000 after purchasing an additional 168 shares in the last quarter. Finally, Greenleaf Trust increased its stake in Textron by 4.0% during the 3rd quarter. Greenleaf Trust now owns 4,401 shares of the aerospace company’s stock valued at $344,000 after purchasing an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Textron Stock Performance

Shares of NYSE TXT traded down $9.09 during trading on Thursday, reaching $84.92. 5,137,980 shares of the company traded hands, compared to its average volume of 1,203,056. The firm has a 50 day simple moving average of $92.09 and a 200-day simple moving average of $83.81. The company has a quick ratio of 1.03, a current ratio of 1.92 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $16.34 billion, a PE ratio of 18.58, a P/E/G ratio of 1.50 and a beta of 1.30. Textron Inc. has a 52-week low of $61.27 and a 52-week high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.07. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.97 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.07 EPS. Equities research analysts anticipate that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s payout ratio is 1.75%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of Textron from $77.00 to $81.00 and gave the company a “sell” rating in a research note on Friday, January 26th. The Goldman Sachs Group raised their price objective on shares of Textron from $103.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Citigroup raised their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Finally, Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $85.00 to $105.00 in a research note on Friday, March 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.63.

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.