Inceptionr LLC Makes New Investment in Textron Inc. (NYSE:TXT)

Inceptionr LLC acquired a new position in shares of Textron Inc. (NYSE:TXT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 23,325 shares of the aerospace company’s stock, valued at approximately $1,784,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Textron during the 4th quarter valued at $41,451,000. International Assets Investment Management LLC purchased a new position in shares of Textron during the 4th quarter valued at $11,523,000. Bank of New York Mellon Corp grew its holdings in shares of Textron by 7.9% during the 4th quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock valued at $109,257,000 after acquiring an additional 104,982 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Textron by 161.8% during the 3rd quarter. National Bank of Canada FI now owns 145,174 shares of the aerospace company’s stock valued at $12,860,000 after acquiring an additional 89,724 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Textron during the 4th quarter valued at $6,512,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Stock Performance

NYSE TXT opened at $72.47 on Thursday. The stock has a market cap of $13.23 billion, a P/E ratio of 16.81, a PEG ratio of 1.18 and a beta of 1.27. The company’s 50-day simple moving average is $75.54 and its 200 day simple moving average is $82.04. Textron Inc. has a twelve month low of $70.14 and a twelve month high of $97.33. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 earnings per share. As a group, research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.08 annualized dividend and a yield of 0.11%. Textron’s dividend payout ratio is 1.86%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TXT. Robert W. Baird reduced their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Susquehanna reduced their price objective on shares of Textron from $100.00 to $90.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Citigroup reduced their price objective on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. reduced their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, TD Cowen raised shares of Textron to a “hold” rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $93.45.

Insiders Place Their Bets

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now directly owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This represents a 23.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

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.