Captrust Financial Advisors Purchases 15,967 Shares of Textron Inc. (NYSE:TXT)

Captrust Financial Advisors lifted its holdings in shares of Textron Inc. (NYSE:TXT) by 22.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,003 shares of the aerospace company’s stock after acquiring an additional 15,967 shares during the quarter. Captrust Financial Advisors’ holdings in Textron were worth $6,731,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TXT. Invesco Ltd. raised its stake in shares of Textron by 17.8% during the 4th quarter. Invesco Ltd. now owns 7,733,335 shares of the aerospace company’s stock worth $591,523,000 after purchasing an additional 1,167,105 shares during the period. Boston Partners increased its holdings in Textron by 4.7% during the fourth quarter. Boston Partners now owns 7,483,692 shares of the aerospace company’s stock worth $572,465,000 after buying an additional 333,127 shares during the last quarter. Geode Capital Management LLC boosted its stake in Textron by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 4,595,861 shares of the aerospace company’s stock valued at $350,619,000 after acquiring an additional 164,964 shares during the last quarter. Brandes Investment Partners LP grew its position in shares of Textron by 19.4% during the 4th quarter. Brandes Investment Partners LP now owns 1,859,703 shares of the aerospace company’s stock valued at $142,249,000 after acquiring an additional 302,712 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Textron by 9.4% during the 4th quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company’s stock worth $137,971,000 after purchasing an additional 155,384 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $72.68, for a total value of $396,178.68. Following the completion of the transaction, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by company insiders.

Textron Price Performance

Shares of NYSE:TXT opened at $72.26 on Friday. The company has a 50 day moving average of $69.73 and a 200 day moving average of $76.00. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The stock has a market cap of $13.05 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.18 and a beta of 1.20. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $94.57.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.11. The firm had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 earnings per share. As a group, sell-side analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron’s payout ratio is 1.81%.

Analysts Set New Price Targets

Several brokerages have weighed in on TXT. Morgan Stanley reduced their price objective on Textron from $82.00 to $71.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. UBS Group increased their price target on Textron from $62.00 to $63.00 and gave the stock a “sell” rating in a research note on Monday, April 28th. Bank of America lowered Textron from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $110.00 to $85.00 in a report on Friday, January 24th. JPMorgan Chase & Co. dropped their price objective on shares of Textron from $90.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Citigroup reduced their target price on shares of Textron from $111.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Textron currently has a consensus rating of “Hold” and a consensus price target of $87.70.

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.