Aigen Investment Management LP Purchases 12,425 Shares of Textron Inc. (NYSE:TXT)

Key Points

• Aigen Investment Management LP increased its holdings in Textron Inc. (NYSE:TXT) by 154.1% during the first quarter, owning 20,490 shares valued at approximately $1.48 million.
• Brokerages have recently given Textron a consensus rating of "Moderate Buy", with price targets ranging from $85.00 to $105.00.
• Textron announced a quarterly dividend of $0.02, with an annualized yield of 0.1%, set to be paid on October 1st to shareholders of record as of September 12th.

Aigen Investment Management LP boosted its stake in Textron Inc. (NYSE:TXT - Free Report) by 154.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,490 shares of the aerospace company's stock after buying an additional 12,425 shares during the quarter. Aigen Investment Management LP's holdings in Textron were worth $1,480,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Balyasny Asset Management L.P. increased its holdings in Textron by 6,785.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,236,441 shares of the aerospace company's stock worth $94,575,000 after acquiring an additional 1,218,485 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Textron in the 4th quarter worth about $41,451,000. D. E. Shaw & Co. Inc. increased its holdings in Textron by 97.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,031,144 shares of the aerospace company's stock worth $78,872,000 after acquiring an additional 510,085 shares during the last quarter. Invesco Ltd. increased its holdings in Textron by 5.6% in the 1st quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company's stock worth $590,059,000 after acquiring an additional 433,567 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Textron in the 4th quarter worth about $22,370,000. 86.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TXT. Susquehanna lifted their price objective on Textron from $90.00 to $95.00 and gave the stock a "positive" rating in a report on Friday, July 25th. Jefferies Financial Group reissued a "buy" rating and issued a $95.00 price objective (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. UBS Group raised Textron from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $73.00 to $88.00 in a report on Monday, July 28th. Wall Street Zen downgraded Textron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Morgan Stanley raised their target price on Textron from $71.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $92.67.

Insider Activity

In other news, EVP Julie G. Duffy sold 28,543 shares of Textron stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $79.37, for a total transaction of $2,265,457.91. Following the completion of the sale, the executive vice president owned 37,624 shares in the company, valued at approximately $2,986,216.88. This trade represents a 43.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.70% of the company's stock.

Textron Price Performance

Shares of TXT traded up $0.92 during trading hours on Tuesday, reaching $78.50. 1,263,922 shares of the company's stock traded hands, compared to its average volume of 1,925,626. The stock has a market cap of $13.99 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16. The company has a current ratio of 1.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The firm's 50 day simple moving average is $79.86 and its 200-day simple moving average is $74.67. Textron Inc. has a 12 month low of $57.70 and a 12 month high of $91.48.

Textron (NYSE:TXT - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The aerospace company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.10. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.64 billion. Textron had a return on equity of 14.26% and a net margin of 5.80%. The company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $1.54 EPS. Equities analysts expect that Textron Inc. will post 6.12 EPS for the current year.

Textron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date is Friday, September 12th. Textron's dividend payout ratio (DPR) is 1.81%.

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.