Textron Inc. (NYSE:TXT) Shares Bought by Plato Investment Management Ltd

Plato Investment Management Ltd grew its holdings in Textron Inc. (NYSE:TXT) by 97,284.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,503 shares of the aerospace company’s stock after buying an additional 18,484 shares during the period. Plato Investment Management Ltd’s holdings in Textron were worth $1,775,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Morton Brown Family Wealth LLC acquired a new position in Textron during the fourth quarter worth $40,000. Jones Financial Companies Lllp grew its holdings in shares of Textron by 200.0% in the fourth quarter. Jones Financial Companies Lllp now owns 507 shares of the aerospace company’s stock valued at $41,000 after purchasing an additional 338 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Textron by 677.1% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the aerospace company’s stock worth $44,000 after purchasing an additional 474 shares during the last quarter. Spire Wealth Management raised its stake in Textron by 90.3% during the fourth quarter. Spire Wealth Management now owns 588 shares of the aerospace company’s stock worth $46,000 after purchasing an additional 279 shares during the period. Finally, Truvestments Capital LLC acquired a new position in Textron in the 1st quarter valued at about $48,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Textron

In related news, Director Kathleen M. Bader sold 11,870 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $87.91, for a total value of $1,043,491.70. Following the completion of the sale, the director now directly owns 3,756 shares of the company’s stock, valued at approximately $330,189.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TXT has been the subject of a number of recent analyst reports. TD Cowen raised their price target on shares of Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Bank of America lifted their target price on Textron from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Susquehanna cut their price objective on Textron from $110.00 to $105.00 and set a “positive” rating for the company in a research report on Friday, April 26th. UBS Group upped their target price on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a research report on Friday, July 19th. Finally, StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $101.63.

Textron Stock Down 2.5 %

Shares of NYSE TXT traded down $2.30 during mid-day trading on Thursday, hitting $90.60. The company had a trading volume of 977,922 shares, compared to its average volume of 1,124,770. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.64 and a quick ratio of 0.66. The company has a market capitalization of $17.28 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. The business’s 50-day simple moving average is $87.94 and its 200 day simple moving average is $88.63. Textron Inc. has a 1-year low of $73.78 and a 1-year high of $97.33.

Textron (NYSE:TXT) last posted its earnings results on Thursday, July 18th. The aerospace company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.56 billion. Textron had a return on equity of 16.41% and a net margin of 6.67%. Textron’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. On average, analysts predict that Textron Inc. will post 6.26 earnings per share for the current year.

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.02 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. Textron’s dividend payout ratio (DPR) is presently 1.71%.

About Textron

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.