Graham Capital Management L.P. Raises Stake in Textron Inc. (NYSE:TXT)

Graham Capital Management L.P. boosted its holdings in Textron Inc. (NYSE:TXT) by 166.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 67,000 shares of the aerospace company’s stock after buying an additional 41,888 shares during the period. Graham Capital Management L.P.’s holdings in Textron were worth $5,125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TXT. SBI Securities Co. Ltd. acquired a new stake in shares of Textron in the fourth quarter worth $31,000. Eastern Bank purchased a new position in Textron in the fourth quarter valued at about $42,000. Optiver Holding B.V. acquired a new position in shares of Textron during the fourth quarter worth about $56,000. Golden State Wealth Management LLC acquired a new stake in shares of Textron in the fourth quarter valued at about $63,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in shares of Textron during the 4th quarter valued at about $68,000. 86.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the firm’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 completion of the transaction, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

Textron Trading Up 0.2 %

NYSE TXT opened at $72.36 on Friday. The firm has a market capitalization of $13.06 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20. Textron Inc. has a one year low of $57.70 and a one year high of $94.57. The company has a 50-day simple moving average of $69.78 and a 200-day simple moving average of $75.89. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.11. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. On average, equities analysts forecast that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 payout ratio is 1.81%.

Analyst Ratings Changes

TXT has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on Textron from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Morgan Stanley lowered 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. Robert W. Baird decreased their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and lowered their target price for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Finally, Citigroup cut their price target on Textron from $111.00 to $107.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Textron has an average rating of “Hold” and a consensus target price of $87.70.

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.