Textron Inc. (NYSE:TXT) Holdings Raised by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. increased its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 88.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 550,976 shares of the aerospace company's stock after purchasing an additional 259,350 shares during the period. Adage Capital Partners GP L.L.C. owned 0.30% of Textron worth $42,144,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in shares of Textron by 50.2% in the fourth quarter. Wellington Management Group LLP now owns 603,171 shares of the aerospace company's stock valued at $46,137,000 after buying an additional 201,696 shares in the last quarter. Merit Financial Group LLC boosted its position in shares of Textron by 5.9% during the 4th quarter. Merit Financial Group LLC now owns 4,784 shares of the aerospace company's stock worth $366,000 after purchasing an additional 265 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Textron by 28.6% during the 4th quarter. Empowered Funds LLC now owns 20,132 shares of the aerospace company's stock worth $1,540,000 after purchasing an additional 4,480 shares during the period. Franklin Resources Inc. increased its holdings in Textron by 10.3% in the third quarter. Franklin Resources Inc. now owns 164,029 shares of the aerospace company's stock valued at $14,505,000 after buying an additional 15,294 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Textron by 44.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,390 shares of the aerospace company's stock worth $1,343,000 after acquiring an additional 5,367 shares during the period. Hedge funds and other institutional investors own 86.03% of the company's stock.

Insider Activity at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $72.68, for a total value of $396,178.68. Following the sale, the vice president now owns 18,223 shares of the company's stock, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is owned by insiders.

Textron Stock Down 0.4 %

TXT stock traded down $0.26 during mid-day trading on Wednesday, hitting $69.72. 267,675 shares of the company were exchanged, compared to its average volume of 1,179,158. The firm has a fifty day simple moving average of $70.11 and a 200 day simple moving average of $76.80. Textron Inc. has a twelve month low of $57.70 and a twelve month high of $94.57. The company has a market capitalization of $12.66 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06. The company has a current ratio of 1.76, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45.

Textron (NYSE:TXT - Get Free Report) last posted its earnings results on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the company earned $1.20 earnings per share. The business's revenue was up 5.5% compared to the same quarter last year. On average, research analysts forecast that Textron Inc. will post 6.12 earnings per share for the current fiscal year.

Textron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend is Friday, June 13th. Textron's dividend payout ratio (DPR) is 1.81%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Vertical Research raised Textron from a "hold" rating to a "buy" rating and set a $91.00 target price on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. decreased their price target on shares of Textron from $90.00 to $88.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Susquehanna reduced their price target on Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. UBS Group increased their price target on shares of Textron from $62.00 to $63.00 and gave the stock a "sell" rating in a research note on Monday. Finally, Morgan Stanley decreased their price objective on shares of Textron from $82.00 to $71.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Textron has an average rating of "Hold" and an average target price of $87.70.

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.