Radnor Capital Management LLC Buys New Position in Textron Inc. (NYSE:TXT)

Radnor Capital Management LLC purchased a new position in shares of Textron Inc. (NYSE:TXT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,695 shares of the aerospace company’s stock, valued at approximately $1,302,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in Textron in the 2nd quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Textron in the second quarter valued at $30,000. Oakworth Capital Inc. acquired a new position in Textron in the second quarter valued at $31,000. Family Firm Inc. purchased a new position in Textron during the second quarter worth about $40,000. Finally, Truvestments Capital LLC acquired a new stake in Textron in the 1st quarter worth about $48,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Textron Trading Up 5.5 %

Shares of TXT opened at $87.90 on Thursday. Textron Inc. has a 12 month low of $74.13 and a 12 month high of $97.33. The stock’s 50-day moving average is $86.72 and its two-hundred day moving average is $87.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.83 and a quick ratio of 0.82. The stock has a market cap of $16.31 billion, a PE ratio of 19.32, a P/E/G ratio of 1.48 and a beta of 1.24.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). Textron had a return on equity of 16.02% and a net margin of 6.30%. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period last year, the firm posted $1.49 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis. Equities analysts forecast that Textron Inc. will post 5.52 earnings per share for the current fiscal year.

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s dividend payout ratio (DPR) is 1.76%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and cut their price objective for the stock from $103.00 to $95.00 in a report on Wednesday, September 25th. Citigroup upped their price objective on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Robert W. Baird cut their target price on Textron from $109.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Morgan Stanley downgraded Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price target for the company. in a research report on Thursday, August 8th. Finally, UBS Group cut their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

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.