Commonwealth Equity Services LLC increased its holdings in Textron Inc. (NYSE:TXT) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,219 shares of the aerospace company’s stock after purchasing an additional 272 shares during the period. Commonwealth Equity Services LLC’s holdings in Textron were worth $1,435,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of TXT. Robeco Institutional Asset Management B.V. lifted its position in shares of Textron by 396.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 138,489 shares of the aerospace company’s stock worth $9,898,000 after purchasing an additional 110,603 shares in the last quarter. US Bancorp DE raised its stake in shares of Textron by 3.3% during the third quarter. US Bancorp DE now owns 33,960 shares of the aerospace company’s stock worth $2,427,000 after buying an additional 1,090 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Textron by 284.6% during the third quarter. Private Advisor Group LLC now owns 15,636 shares of the aerospace company’s stock worth $1,117,000 after buying an additional 11,570 shares during the last quarter. LSV Asset Management raised its stake in shares of Textron by 0.5% during the third quarter. LSV Asset Management now owns 838,456 shares of the aerospace company’s stock worth $59,924,000 after buying an additional 4,015 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Textron by 3.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 837,288 shares of the aerospace company’s stock worth $59,841,000 after buying an additional 26,905 shares during the last quarter. 83.86% of the stock is currently owned by institutional investors.
NYSE:TXT traded up $0.56 during trading hours on Friday, hitting $50.66. The stock had a trading volume of 1,700,101 shares, compared to its average volume of 1,623,037. Textron Inc. has a one year low of $43.27 and a one year high of $72.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 2.14. The company has a market capitalization of $11.85 billion, a PE ratio of 15.17, a PEG ratio of 1.10 and a beta of 1.67.
Textron (NYSE:TXT) last issued its earnings results on Thursday, January 24th. The aerospace company reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.17. Textron had a net margin of 8.75% and a return on equity of 15.51%. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was down 6.6% on a year-over-year basis. On average, sell-side analysts forecast that Textron Inc. will post 3.67 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.16%. The ex-dividend date of this dividend is Thursday, March 14th. Textron’s payout ratio is presently 2.40%.
In other news, VP Mark S. Bamford sold 4,500 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $54.75, for a total transaction of $246,375.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Scott C. Donnelly sold 230,654 shares of the stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $55.04, for a total transaction of $12,695,196.16. Following the sale, the chairman now directly owns 707,495 shares of the company’s stock, valued at approximately $38,940,524.80. The disclosure for this sale can be found here. Insiders sold 458,112 shares of company stock valued at $25,222,635 in the last ninety days. Insiders own 1.40% of the company’s stock.
TXT has been the subject of a number of recent research reports. TheStreet raised shares of Textron from a “c+” rating to a “b” rating in a research note on Thursday, January 31st. Zacks Investment Research raised shares of Textron from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Saturday, February 2nd. Cowen reissued a “buy” rating and set a $62.00 price target on shares of Textron in a research note on Wednesday, February 27th. Jefferies Financial Group set a $59.00 price target on shares of Textron and gave the stock a “buy” rating in a research note on Tuesday, January 8th. Finally, ValuEngine raised shares of Textron from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $67.42.
About Textron
Textron, Inc is a multi-industry company, which leverages global network of aircraft, defense, industrial, and finance businesses to provide customers innovative solutions and services. The company operates its business through the following segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.
