85,133 Shares in Textron Inc. (NYSE:TXT) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new position in Textron Inc. (NYSE:TXT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 85,133 shares of the aerospace company’s stock, valued at approximately $6,512,000.

Several other large investors also recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in Textron by 7.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,428,377 shares of the aerospace company’s stock worth $109,257,000 after purchasing an additional 104,982 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Textron by 3.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 511,770 shares of the aerospace company’s stock worth $39,145,000 after purchasing an additional 16,359 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Textron by 0.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 475,420 shares of the aerospace company’s stock worth $36,365,000 after purchasing an additional 4,381 shares during the last quarter. Todd Asset Management LLC increased its position in Textron by 1.8% in the fourth quarter. Todd Asset Management LLC now owns 470,292 shares of the aerospace company’s stock worth $35,973,000 after purchasing an additional 8,198 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Textron by 18.0% during the third quarter. Wellington Management Group LLP now owns 401,475 shares of the aerospace company’s stock worth $35,563,000 after buying an additional 61,248 shares during the period. Institutional investors own 86.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TXT shares. Bank of America lowered shares of Textron from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $110.00 to $85.00 in a research note on Friday, January 24th. Robert W. Baird dropped 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. Morgan Stanley dropped their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Citigroup dropped 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. Finally, TD Cowen raised shares of Textron to a “hold” rating in a research note 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.45.

Insiders Place Their Bets

In other news, VP Mark S. Bamford sold 5,451 shares of the firm’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 transaction of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company’s stock, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by insiders.

Textron Stock Performance

TXT stock opened at $73.95 on Tuesday. The firm has a market cap of $13.50 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.18 and a beta of 1.27. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The firm has a 50-day simple moving average of $75.68 and a two-hundred day simple moving average of $82.17. Textron Inc. has a one year low of $71.67 and a one year high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings data on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.27 by $0.07. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.78 billion. Textron had a net margin of 6.01% and a return on equity of 14.92%. Textron’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm posted $1.60 EPS. On average, equities analysts forecast that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Dividend Announcement

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

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.