CANADA LIFE ASSURANCE Co Has $5.46 Million Stake in Textron Inc. (NYSE:TXT)

CANADA LIFE ASSURANCE Co decreased its holdings in shares of Textron Inc. (NYSE:TXT - Free Report) by 5.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,406 shares of the aerospace company's stock after selling 4,477 shares during the period. CANADA LIFE ASSURANCE Co's holdings in Textron were worth $5,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TXT. SBI Securities Co. Ltd. purchased a new stake in Textron during the 4th quarter worth about $31,000. Eastern Bank acquired a new stake in Textron during the 4th quarter worth approximately $42,000. Golden State Wealth Management LLC purchased a new position in Textron during the 4th quarter worth $63,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Textron in the fourth quarter valued at about $68,000. Finally, Geneos Wealth Management Inc. raised its holdings in Textron by 33.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 964 shares of the aerospace company's stock worth $74,000 after purchasing an additional 239 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Textron

In related news, VP Mark S. Bamford sold 5,451 shares of the firm's stock in a transaction that occurred 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 directly owns 18,223 shares in the company, valued at $1,324,447.64. This trade represents a 23.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.70% of the stock is owned by company insiders.

Textron Stock Up 0.5 %

Shares of TXT traded up $0.34 during trading on Tuesday, reaching $69.72. The company's stock had a trading volume of 179,328 shares, compared to its average volume of 1,180,577. The company has a fifty day moving average of $70.16 and a two-hundred day moving average of $76.85. The company has a market cap of $12.66 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 1.18 and a beta of 1.06. Textron Inc. has a twelve month low of $57.70 and a twelve 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.

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

Textron Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on TXT shares. UBS Group raised their price target on Textron from $62.00 to $63.00 and gave the company a "sell" rating in a report on Monday. Robert W. Baird decreased their price objective on shares of Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Citigroup decreased their price target on Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Bank of America lowered Textron from a "buy" rating to a "neutral" rating and lowered their target price for the company from $110.00 to $85.00 in a report on Friday, January 24th. Finally, TD Cowen raised Textron to a "hold" rating in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $87.70.

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.