Baxter Bros Inc. Acquires 15,802 Shares of Textron Inc. (NYSE:TXT)

Baxter Bros Inc. increased its stake in Textron Inc. (NYSE:TXT) by 150.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 26,292 shares of the aerospace company’s stock after purchasing an additional 15,802 shares during the quarter. Baxter Bros Inc.’s holdings in Textron were worth $2,114,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Lindbrook Capital LLC lifted its position in shares of Textron by 18.6% during the 4th quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock valued at $62,000 after buying an additional 122 shares in the last quarter. Allworth Financial LP boosted its position in shares of Textron by 12.0% in the fourth quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock worth $103,000 after purchasing an additional 137 shares during the period. Quent Capital LLC raised its position in shares of Textron by 29.2% during the 4th quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after purchasing an additional 143 shares during the period. Financial Advocates Investment Management raised its position in shares of Textron by 3.3% during the 3rd quarter. Financial Advocates Investment Management now owns 5,208 shares of the aerospace company’s stock valued at $407,000 after purchasing an additional 168 shares during the period. Finally, Greenleaf Trust lifted its stake in shares of Textron by 4.0% during the 3rd quarter. Greenleaf Trust now owns 4,401 shares of the aerospace company’s stock valued at $344,000 after buying an additional 171 shares in the last quarter. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TXT has been the topic of a number of recent analyst reports. UBS Group raised their price target on Textron from $77.00 to $81.00 and gave the company a “sell” rating in a report on Friday, January 26th. Bank of America raised Textron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $105.00 in a report on Friday, March 8th. Citigroup increased their price objective on shares of Textron from $104.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Susquehanna lowered their target price on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a report on Friday, April 26th. Finally, StockNews.com cut shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Textron has a consensus rating of “Moderate Buy” and an average price target of $95.63.

Textron Price Performance

Textron stock traded up $0.22 during mid-day trading on Friday, reaching $85.59. 1,388,861 shares of the company’s stock traded hands, compared to its average volume of 1,389,966. Textron Inc. has a 12-month low of $61.27 and a 12-month high of $97.33. The company has a market cap of $16.32 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.35 and a beta of 1.32. The stock has a 50 day moving average of $92.10 and a two-hundred day moving average of $84.12. The company has a quick ratio of 0.84, a current ratio of 1.81 and a debt-to-equity ratio of 0.46.

Textron (NYSE:TXT) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Textron had a net margin of 6.75% and a return on equity of 16.30%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $1.05 earnings per share. Equities analysts forecast that Textron Inc. will post 6.27 earnings per share for the current year.

Textron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.02 per share. The ex-dividend date is Friday, June 14th. This represents a $0.08 annualized dividend and a yield of 0.09%. Textron’s payout ratio is 1.71%.

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.