U S Global Investors Inc. Buys 30,831 Shares of Textron Inc. (NYSE:TXT)

U S Global Investors Inc. raised its stake in Textron Inc. (NYSE:TXT) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 262,574 shares of the aerospace company’s stock after acquiring an additional 30,831 shares during the period. Textron makes up 2.0% of U S Global Investors Inc.’s portfolio, making the stock its 17th largest holding. U S Global Investors Inc. owned approximately 0.14% of Textron worth $20,084,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC bought a new position in Textron during the third quarter valued at $26,000. Capital Performance Advisors LLP bought a new position in Textron during the third quarter valued at $42,000. Eastern Bank bought a new position in Textron during the fourth quarter valued at $42,000. Truvestments Capital LLC purchased a new stake in shares of Textron in the third quarter valued at $43,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Textron by 69.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 566 shares of the aerospace company’s stock worth $50,000 after acquiring an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the completion of the sale, the vice president now owns 18,223 shares in the company, valued at $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.

Textron Trading Up 0.2 %

NYSE TXT opened at $73.19 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.76. The firm has a market cap of $13.36 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.18 and a beta of 1.27. The firm has a 50 day simple moving average of $75.77 and a 200-day simple moving average of $82.39. Textron Inc. has a one year low of $71.67 and a one year high of $97.33.

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

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, March 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. Textron’s payout ratio is currently 1.86%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TXT shares. Barclays reduced their price objective on shares of Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Bank of America downgraded Textron from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $110.00 to $85.00 in a research report on Friday, January 24th. Morgan Stanley cut their price objective on shares of Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citigroup dropped their target price on Textron from $118.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, Robert W. Baird cut their price objective on shares of Textron from $100.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.45.

Textron 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.