Jones Financial Companies Lllp Purchases 1,293 Shares of Textron Inc. (NYSE:TXT)

Jones Financial Companies Lllp boosted its position in Textron Inc. (NYSE:TXT) by 72.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,069 shares of the aerospace company’s stock after purchasing an additional 1,293 shares during the period. Jones Financial Companies Lllp’s holdings in Textron were worth $235,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in shares of Textron during the 3rd quarter valued at approximately $26,000. Eastern Bank bought a new position in shares of Textron during the 4th quarter valued at approximately $42,000. Truvestments Capital LLC bought a new position in shares of Textron during the 3rd quarter valued at approximately $43,000. Venturi Wealth Management LLC grew its position in shares of Textron by 69.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock valued at $50,000 after acquiring an additional 232 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in shares of Textron during the 4th quarter valued at approximately $63,000. 86.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Mark S. Bamford sold 5,451 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 18,223 shares of the company’s stock, valued at approximately $1,324,447.64. This trade represents a 23.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Citigroup reduced their target price on shares of Textron from $118.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Morgan Stanley dropped their price target on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Vertical Research upgraded shares of Textron from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Monday, January 6th. TD Cowen upgraded shares of Textron to a “hold” rating in a research note on Monday, February 24th. Finally, Susquehanna dropped their price target on shares of Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.45.

Textron Stock Performance

NYSE TXT opened at $72.03 on Friday. Textron Inc. has a 1 year low of $70.14 and a 1 year high of $97.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. The stock has a market capitalization of $13.08 billion, a PE ratio of 16.71, a P/E/G ratio of 1.18 and a beta of 1.26. The company’s 50 day simple moving average is $75.18 and its two-hundred day simple moving average is $81.46.

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

Textron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Friday, March 14th. Textron’s dividend payout ratio (DPR) is presently 1.86%.

Textron Company 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.