General Partner Inc. Makes New $60,000 Investment in Textron Inc. (NYSE:TXT)

General Partner Inc. acquired a new position in shares of Textron Inc. (NYSE:TXT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 630 shares of the aerospace company’s stock, valued at approximately $60,000.

A number of other institutional investors have also recently bought and sold shares of the business. Lindbrook Capital LLC boosted its position in Textron by 18.6% during the 4th quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 122 shares during the period. Allworth Financial LP raised its stake in shares of Textron by 12.0% during the 4th quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock worth $103,000 after purchasing an additional 137 shares in the last quarter. Quent Capital LLC raised its stake in shares of Textron by 29.2% during the 4th quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock worth $51,000 after purchasing an additional 143 shares in the last quarter. Altman Advisors Inc. raised its stake in shares of Textron by 0.8% in the 4th quarter. Altman Advisors Inc. now owns 21,357 shares of the aerospace company’s stock valued at $1,718,000 after acquiring an additional 159 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its stake in shares of Textron by 0.3% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 59,340 shares of the aerospace company’s stock valued at $4,772,000 after acquiring an additional 199 shares in the last quarter. 86.03% of the stock is currently owned by institutional investors and hedge funds.

Textron Price Performance

TXT stock traded up $0.04 during trading on Tuesday, hitting $85.96. The company had a trading volume of 218,653 shares, compared to its average volume of 1,137,416. The company has a fifty day moving average price of $88.64 and a two-hundred day moving average price of $86.49. The company has a current ratio of 1.81, a quick ratio of 0.84 and a debt-to-equity ratio of 0.46. The company has a market cap of $16.39 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.35 and a beta of 1.29. Textron Inc. has a fifty-two week low of $64.42 and a fifty-two week high of $97.33.

Textron (NYSE:TXT) last announced its quarterly earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.08). The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. Textron’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 EPS. Equities research analysts expect that Textron Inc. will post 6.27 earnings per share for the current fiscal year.

Textron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend is Friday, June 14th. Textron’s dividend payout ratio is currently 1.71%.

Analyst Upgrades and Downgrades

TXT has been the topic of several recent analyst reports. StockNews.com downgraded Textron from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $105.00 in a report on Friday, March 8th. Susquehanna decreased their price objective on Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, April 26th. The Goldman Sachs Group lifted their price objective on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Citigroup lifted their price objective on Textron from $104.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $99.29.

Insiders Place Their Bets

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of the business’s stock in a transaction on 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 transaction, the director now owns 3,756 shares of the company’s stock, valued at $330,189.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.80% of the company’s stock.

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.