Fullerton Fund Management Co Ltd. Takes $612,000 Position in Textron Inc. (NYSE:TXT)

Fullerton Fund Management Co Ltd. purchased a new position in Textron Inc. (NYSE:TXT) during the fourth quarter, according to the company in its most recent Form 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 have also recently bought and sold shares of TXT. Pflug Koory LLC increased its position in shares of Textron by 0.9% in the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company’s stock worth $1,054,000 after acquiring an additional 125 shares in the last quarter. V Square Quantitative Management LLC raised its stake in Textron by 5.7% during the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company’s stock valued at $200,000 after purchasing an additional 141 shares during the period. Syon Capital LLC lifted its holdings in shares of Textron by 4.5% in the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company’s stock valued at $271,000 after purchasing an additional 153 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Textron by 5.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company’s stock worth $228,000 after buying an additional 163 shares during the period. Finally, Motley Fool Asset Management LLC grew its holdings in shares of Textron by 6.3% during the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company’s stock valued at $209,000 after buying an additional 163 shares in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.

Analyst Upgrades and Downgrades

TXT has been the subject of several research analyst reports. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Morgan Stanley decreased their price target on shares of Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. lowered their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Citigroup cut their target price 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. Finally, TD Cowen upgraded shares of Textron to a “hold” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Textron presently has a consensus rating of “Hold” and an average target price of $87.70.

Textron Stock Up 0.2 %

TXT stock opened at $72.36 on Friday. The firm has a market cap of $13.06 billion, a PE ratio of 16.79, a PEG ratio of 1.18 and a beta of 1.20. Textron Inc. has a 1 year low of $57.70 and a 1 year high of $94.57. The company has a fifty day simple moving average of $69.78 and a 200 day simple moving average of $75.89. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

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

Textron Announces Dividend

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

Insider Activity

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated 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 approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.

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.