Morse Asset Management Inc Invests $2.10 Million in Textron Inc. (NYSE:TXT)

Morse Asset Management Inc acquired a new stake in shares of Textron Inc. (NYSE:TXT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,896 shares of the aerospace company’s stock, valued at approximately $2,100,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Lindbrook Capital LLC increased its holdings in shares of Textron by 18.6% during the fourth quarter. Lindbrook Capital LLC now owns 777 shares of the aerospace company’s stock worth $62,000 after buying an additional 122 shares in the last quarter. True Vision MN LLC grew its holdings in Textron by 2.5% during the 1st quarter. True Vision MN LLC now owns 5,352 shares of the aerospace company’s stock worth $513,000 after acquiring an additional 133 shares during the last quarter. Allworth Financial LP increased its position in Textron by 12.0% in the 4th quarter. Allworth Financial LP now owns 1,283 shares of the aerospace company’s stock valued at $103,000 after acquiring an additional 137 shares during the period. Quent Capital LLC raised its stake in shares of Textron by 29.2% during the fourth quarter. Quent Capital LLC now owns 633 shares of the aerospace company’s stock valued at $51,000 after acquiring an additional 143 shares during the last quarter. Finally, Czech National Bank grew its stake in shares of Textron by 0.5% in the first quarter. Czech National Bank now owns 34,487 shares of the aerospace company’s stock worth $3,308,000 after purchasing an additional 157 shares during the last quarter. 86.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. TD Cowen lifted their price objective on Textron from $100.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Citigroup upped their price objective on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of Textron from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 26th. Susquehanna cut their price target on shares of Textron from $110.00 to $105.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. Finally, The Goldman Sachs Group increased their price target on Textron from $103.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.63.

Insider Activity at Textron

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

Textron Stock Up 0.8 %

Shares of TXT stock traded up $0.77 on Friday, reaching $92.06. 743,273 shares of the company were exchanged, compared to its average volume of 1,031,720. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.64 and a quick ratio of 0.66. The company has a 50-day moving average of $87.69 and a 200-day moving average of $88.40. The company has a market cap of $17.56 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.46 and a beta of 1.25. Textron Inc. has a one year low of $72.37 and a one year high of $97.33.

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

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.