Caerus Investment Advisors LLC purchased a new position in shares of Textron Inc. (NYSE:TXT – Free Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 7,118 shares of the aerospace company’s stock, valued at approximately $620,000.
Other large investors also recently made changes to their positions in the company. Activest Wealth Management boosted its stake in shares of Textron by 3,255.6% during the 4th quarter. Activest Wealth Management now owns 302 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 293 shares in the last quarter. Elyxium Wealth LLC bought a new stake in Textron during the 4th quarter valued at approximately $30,000. Accredited Wealth Management LLC boosted its stake in Textron by 804.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 452 shares of the aerospace company’s stock valued at $38,000 after purchasing an additional 402 shares during the period. Assetmark Inc. boosted its stake in Textron by 52.2% during the 3rd quarter. Assetmark Inc. now owns 493 shares of the aerospace company’s stock valued at $42,000 after purchasing an additional 169 shares during the period. Finally, Optiver Holding B.V. bought a new stake in Textron during the 3rd quarter valued at approximately $45,000. Institutional investors own 86.03% of the company’s stock.
Textron Trading Up 2.5%
Textron stock opened at $93.64 on Friday. The business has a 50 day moving average price of $90.87 and a two-hundred day moving average price of $91.07. The company has a quick ratio of 0.87, a current ratio of 1.84 and a debt-to-equity ratio of 0.43. The stock has a market cap of $16.28 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 1.37 and a beta of 0.90. Textron Inc. has a 12 month low of $75.75 and a 12 month high of $101.57.
Textron Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.08 annualized dividend and a yield of 0.1%. Textron’s dividend payout ratio is 1.53%.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Morgan Stanley set a $109.00 target price on Textron in a research note on Monday, May 4th. Sanford C. Bernstein increased their target price on Textron from $94.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, February 19th. Weiss Ratings downgraded Textron from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 20th. UBS Group increased their target price on Textron from $99.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Citigroup increased their target price on Textron from $97.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $101.18.
Check Out Our Latest Analysis on Textron
Insider Activity at Textron
In other Textron news, Director R Kerry Clark sold 2,517 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $93.09, for a total value of $234,307.53. Following the completion of the transaction, the director owned 8,611 shares of the company’s stock, valued at $801,597.99. This represents a 22.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas A. Kennedy purchased 10,300 shares of the business’s stock in a transaction on Friday, May 1st. The stock was purchased at an average cost of $95.98 per share, with a total value of $988,594.00. Following the acquisition, the director owned 20,162 shares in the company, valued at approximately $1,935,148.76. This represents a 104.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.90% of the company’s stock.
Textron Profile
Textron Inc is a global, multi-industry manufacturing company headquartered in Providence, Rhode Island. The company designs, manufactures and services a diverse range of products for the aerospace, defense and industrial markets. Textron operates through four primary business segments—Textron Aviation, Bell, Textron Systems and Industrial—each of which serves customers around the world.
Textron Aviation is known for its Cessna and Beechcraft branded business jets and turboprop aircraft, offering models that range from light jets and turboprops to larger cabin aircraft designed for corporate and charter use.
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