Patriot Financial Group Insurance Agency LLC Makes New $205,000 Investment in Textron Inc. (NYSE:TXT)

Patriot Financial Group Insurance Agency LLC bought a new position in Textron Inc. (NYSE:TXTFree Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,543 shares of the aerospace company’s stock, valued at approximately $205,000.

Other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in shares of Textron by 5.4% during the fourth quarter. State of Alaska Department of Revenue now owns 61,775 shares of the aerospace company’s stock worth $4,967,000 after acquiring an additional 3,150 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Textron by 52.6% during the fourth quarter. Global Retirement Partners LLC now owns 746 shares of the aerospace company’s stock worth $58,000 after acquiring an additional 257 shares during the period. Uncommon Cents Investing LLC raised its holdings in shares of Textron by 92.6% during the fourth quarter. Uncommon Cents Investing LLC now owns 6,810 shares of the aerospace company’s stock worth $548,000 after acquiring an additional 3,275 shares during the period. Strong Tower Advisory Services raised its holdings in shares of Textron by 3.7% during the fourth quarter. Strong Tower Advisory Services now owns 12,474 shares of the aerospace company’s stock worth $1,003,000 after acquiring an additional 449 shares during the period. Finally, Lincoln Capital Corp raised its holdings in shares of Textron by 63.4% during the fourth quarter. Lincoln Capital Corp now owns 33,484 shares of the aerospace company’s stock worth $2,693,000 after acquiring an additional 12,996 shares during the period. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TXT shares. UBS Group lifted their price target 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. Bank of America upgraded shares of Textron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $85.00 to $105.00 in a research note on Friday, March 8th. Citigroup lifted their price target on shares of Textron from $102.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. lifted their price target on shares of Textron from $84.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, December 20th. Finally, StockNews.com upgraded shares of Textron from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Textron has an average rating of “Moderate Buy” and an average price target of $90.00.

Check Out Our Latest Stock Report on Textron

Textron Price Performance

TXT stock opened at $95.34 on Tuesday. The stock has a market cap of $18.34 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 1.51 and a beta of 1.30. Textron Inc. has a 1 year low of $61.27 and a 1 year high of $96.80. The company has a 50 day simple moving average of $89.16 and a 200 day simple moving average of $81.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03.

Textron (NYSE:TXTGet Free Report) last released its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.07. Textron had a net margin of 6.73% and a return on equity of 16.05%. The firm had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. Research analysts anticipate that Textron Inc. will post 6.27 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.08%. Textron’s dividend payout ratio is currently 1.75%.

Textron Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Textron (NYSE:TXT)

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