Shell Asset Management Co. Makes New $388,000 Investment in Textron Inc. (NYSE:TXT)

Shell Asset Management Co. bought a new position in shares of Textron Inc. (NYSE:TXT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,046 shares of the aerospace company’s stock, valued at approximately $388,000.

A number of other institutional investors have also modified their holdings of TXT. SG Americas Securities LLC increased its position in shares of Textron by 269.1% during the fourth quarter. SG Americas Securities LLC now owns 20,896 shares of the aerospace company’s stock worth $1,680,000 after acquiring an additional 15,235 shares during the period. HB Wealth Management LLC increased its position in shares of Textron by 21.6% during the fourth quarter. HB Wealth Management LLC now owns 4,052 shares of the aerospace company’s stock worth $326,000 after acquiring an additional 721 shares during the period. Raymond James & Associates increased its position in shares of Textron by 9.0% during the fourth quarter. Raymond James & Associates now owns 215,809 shares of the aerospace company’s stock worth $17,355,000 after acquiring an additional 17,815 shares during the period. CVA Family Office LLC purchased a new position in shares of Textron during the fourth quarter worth approximately $29,000. Finally, Pacer Advisors Inc. increased its holdings in Textron by 10.9% during the fourth quarter. Pacer Advisors Inc. now owns 14,910 shares of the aerospace company’s stock valued at $1,199,000 after buying an additional 1,466 shares during the period. 86.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TXT. UBS Group lifted their price objective on shares of Textron from $84.00 to $87.00 and gave the company a “sell” rating in a report on Friday, July 19th. StockNews.com lowered shares of Textron from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Susquehanna cut their price objective 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. Bank of America lifted their price objective on shares of Textron from $105.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday. Finally, TD Cowen lifted their price objective on shares of Textron from $100.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.63.

Insider Transactions at Textron

In other news, Director Kathleen M. Bader sold 11,870 shares of Textron stock in a transaction on 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 sale, the director now directly owns 3,756 shares in the company, valued at $330,189.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.70% of the company’s stock.

Textron Price Performance

Shares of TXT opened at $92.06 on Friday. The company has a market cap of $17.56 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.45 and a beta of 1.25. Textron Inc. has a twelve month low of $72.37 and a twelve month high of $97.33. The company has a quick ratio of 0.66, a current ratio of 1.64 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of $87.69 and a two-hundred day moving average of $88.26.

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

About Textron

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.