Balyasny Asset Management L.P. Purchases 1,218,485 Shares of Textron Inc. (NYSE:TXT)

Balyasny Asset Management L.P. boosted its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 6,785.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,236,441 shares of the aerospace company's stock after buying an additional 1,218,485 shares during the period. Balyasny Asset Management L.P. owned approximately 0.67% of Textron worth $94,575,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TXT. Pflug Koory LLC boosted its holdings in Textron by 0.9% in the fourth quarter. Pflug Koory LLC now owns 13,778 shares of the aerospace company's stock worth $1,054,000 after purchasing an additional 125 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Textron by 5.7% in the 4th quarter. V Square Quantitative Management LLC now owns 2,611 shares of the aerospace company's stock worth $200,000 after buying an additional 141 shares during the last quarter. Syon Capital LLC grew its holdings in shares of Textron by 4.5% in the fourth quarter. Syon Capital LLC now owns 3,538 shares of the aerospace company's stock worth $271,000 after acquiring an additional 153 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in Textron by 5.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 2,977 shares of the aerospace company's stock valued at $228,000 after acquiring an additional 163 shares during the last quarter. Finally, Motley Fool Asset Management LLC lifted its holdings in Textron by 6.3% in the fourth quarter. Motley Fool Asset Management LLC now owns 2,732 shares of the aerospace company's stock valued at $209,000 after acquiring an additional 163 shares during the period. Hedge funds and other institutional investors own 86.03% of the company's stock.

Textron Price Performance

NYSE TXT traded up $0.56 during trading on Wednesday, hitting $70.05. 1,975,929 shares of the stock traded hands, compared to its average volume of 1,189,705. The firm has a 50-day simple moving average of $69.77 and a 200-day simple moving average of $76.12. Textron Inc. has a 12-month low of $57.70 and a 12-month high of $94.57. The company has a quick ratio of 0.84, a current ratio of 1.76 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $12.65 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.18 and a beta of 1.20.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The aerospace company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.11. Textron had a net margin of 6.01% and a return on equity of 14.92%. The business had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. During the same period last year, the company posted $1.20 EPS. The business's revenue was up 5.5% on a year-over-year basis. As a group, analysts predict that Textron Inc. will post 6.12 EPS for the current year.

Textron Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TXT. Susquehanna lowered their price objective on shares of Textron from $100.00 to $90.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Monday, February 24th. Robert W. Baird cut their price objective on shares of Textron from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Bank of America lowered Textron from a "buy" rating to a "neutral" rating and cut their price target for the company from $110.00 to $85.00 in a report on Friday, January 24th. Finally, Citigroup dropped their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Textron currently has a consensus rating of "Hold" and a consensus price target of $87.70.

Insider Activity

In other news, VP Mark S. Bamford sold 5,451 shares of the business's stock in a transaction on Monday, February 24th. The shares were 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 directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company's stock.

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.