Radnor Capital Management LLC Makes New Investment in Textron Inc. (NYSE:TXT)

Radnor Capital Management LLC bought a new stake in Textron Inc. (NYSE:TXT) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 14,695 shares of the aerospace company’s stock, valued at approximately $1,302,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Innealta Capital LLC acquired a new stake in Textron in the second quarter valued at $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Textron in the 2nd quarter worth about $30,000. Oakworth Capital Inc. acquired a new stake in shares of Textron in the 2nd quarter valued at about $31,000. Family Firm Inc. bought a new position in shares of Textron during the second quarter worth about $40,000. Finally, Truvestments Capital LLC acquired a new position in Textron in the first quarter worth about $48,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. UBS Group cut their price objective on Textron from $87.00 to $79.00 and set a “sell” rating on the stock in a research note on Friday, October 25th. Morgan Stanley cut Textron from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research note on Thursday, August 8th. TD Cowen lowered shares of Textron from a “buy” rating to a “hold” rating and lowered their target price for the company from $103.00 to $95.00 in a research note on Wednesday, September 25th. Bank of America increased their target price on shares of Textron from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, Citigroup lifted their price target on shares of Textron from $111.00 to $115.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.56.

Textron Price Performance

NYSE TXT opened at $87.90 on Thursday. The company has a 50-day moving average price of $86.72 and a two-hundred day moving average price of $87.42. The stock has a market cap of $16.31 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 1.48 and a beta of 1.24. The company has a current ratio of 1.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. Textron Inc. has a 52 week low of $74.13 and a 52 week high of $97.33.

Textron (NYSE:TXT) last posted its earnings results on Thursday, October 24th. The aerospace company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.09). The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.50 billion. Textron had a net margin of 6.30% and a return on equity of 16.02%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.49 earnings per share. Analysts forecast that Textron Inc. will post 5.52 EPS for the current year.

Textron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend is Friday, December 13th. Textron’s payout ratio is currently 1.76%.

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.