Bayesian Capital Management LP Acquires Shares of 3,100 Textron Inc. (NYSE:TXT)

Bayesian Capital Management LP acquired a new stake in shares of Textron Inc. (NYSE:TXT) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,100 shares of the aerospace company’s stock, valued at approximately $297,000.

Other large investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. raised its stake in Textron by 263.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 13,369 shares of the aerospace company’s stock valued at $1,283,000 after buying an additional 9,692 shares during the last quarter. SageView Advisory Group LLC purchased a new position in Textron during the fourth quarter valued at $922,000. Studio Investment Management LLC purchased a new position in Textron during the fourth quarter valued at $1,223,000. Charles Schwab Investment Management Inc. raised its stake in Textron by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,692,173 shares of the aerospace company’s stock valued at $136,085,000 after buying an additional 19,769 shares during the last quarter. Finally, Duality Advisers LP purchased a new position in Textron during the fourth quarter valued at $2,745,000. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. TD Cowen boosted their price target on Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. UBS Group boosted their price target on Textron from $84.00 to $87.00 and gave the stock a “sell” rating in a research note on Friday, July 19th. StockNews.com cut Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Citigroup boosted their price target on Textron from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Bank of America boosted their price target on Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Textron presently has a consensus rating of “Moderate Buy” and an average price target of $101.63.

Textron Stock Up 0.9 %

Textron stock opened at $92.90 on Thursday. The stock has a market cap of $17.72 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 1.46 and a beta of 1.25. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.66 and a current ratio of 1.64. Textron Inc. has a one year low of $73.78 and a one year high of $97.33. The stock has a fifty day moving average of $87.88 and a 200 day moving average of $88.62.

Textron (NYSE:TXT) last released its quarterly earnings results on Thursday, July 18th. The aerospace company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.06. Textron had a return on equity of 16.41% and a net margin of 6.67%. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. Textron’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts predict that Textron Inc. will post 6.26 EPS for the current year.

Textron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued 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, September 13th. Textron’s dividend payout ratio is presently 1.71%.

Insider Buying and Selling at Textron

In other Textron news, Director Kathleen M. Bader sold 11,870 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $87.91, for a total transaction of $1,043,491.70. Following the completion of the sale, the director now owns 3,756 shares of the company’s stock, valued at $330,189.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

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.