Canada Pension Plan Investment Board Has $6.92 Million Stock Position in Textron Inc. (NYSE:TXT)

Canada Pension Plan Investment Board decreased its position in shares of Textron Inc. (NYSE:TXT - Free Report) by 48.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,477 shares of the aerospace company's stock after selling 84,491 shares during the period. Canada Pension Plan Investment Board's holdings in Textron were worth $6,921,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Lodge Hill Capital LLC bought a new stake in Textron during the 4th quarter valued at approximately $12,036,000. Marshall Wace LLP acquired a new position in shares of Textron during the fourth quarter worth approximately $22,370,000. Jump Financial LLC boosted its position in shares of Textron by 2,851.7% in the fourth quarter. Jump Financial LLC now owns 100,004 shares of the aerospace company's stock valued at $7,649,000 after acquiring an additional 96,616 shares during the period. Guggenheim Capital LLC grew its stake in shares of Textron by 14.4% in the fourth quarter. Guggenheim Capital LLC now owns 38,569 shares of the aerospace company's stock worth $2,950,000 after acquiring an additional 4,858 shares during the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new position in Textron during the fourth quarter worth $9,212,000. 86.03% of the stock is currently owned by institutional investors.

Textron Price Performance

TXT stock traded up $0.66 during midday trading on Friday, reaching $68.59. 1,697,977 shares of the company's stock traded hands, compared to its average volume of 1,182,751. The company has a 50-day simple moving average of $70.22 and a two-hundred day simple moving average of $76.97. 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 Inc. has a 1-year low of $57.70 and a 1-year high of $94.57. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.18 and a beta of 1.06.

Textron (NYSE:TXT - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The aerospace company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.11. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.26 billion. On average, analysts anticipate that Textron Inc. will post 6.12 earnings per share for the current year.

Textron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.12%. The ex-dividend date is Friday, June 13th. Textron's dividend payout ratio is 1.81%.

Insider Buying and Selling at Textron

In other Textron news, VP Mark S. Bamford sold 5,451 shares of the company'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 owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

TXT has been the topic of several research analyst reports. TD Cowen upgraded shares of Textron to a "hold" rating in a research report on Monday, February 24th. Susquehanna lowered 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. Robert W. Baird decreased their price objective on Textron from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Vertical Research upgraded Textron from a "hold" rating to a "buy" rating and set a $91.00 target price for the company in a research note on Monday, January 6th. Finally, Citigroup decreased their price target on shares of Textron from $111.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Textron has a consensus rating of "Hold" and an average price target of $89.30.

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.