Textron Inc. $TXT Stock Holdings Increased by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. boosted its stake in Textron Inc. by 146.2%, acquiring an additional 10,450 shares in the first quarter, bringing their total holdings to 17,598 shares valued at approximately $1,271,000.
• Textron reported an earnings per share (EPS) of $1.55, surpassing analysts' expectations of $1.45, while its quarterly revenue increased to $3.72 billion, a growth of 5.4% year-over-year.
• The company announced a quarterly dividend of $0.02 per share, payable on October 1st, translating to an annualized yield of 0.1%, with a dividend payout ratio of 1.81%.

Fox Run Management L.L.C. increased its stake in shares of Textron Inc. (NYSE:TXT - Free Report) by 146.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,598 shares of the aerospace company's stock after buying an additional 10,450 shares during the period. Fox Run Management L.L.C.'s holdings in Textron were worth $1,271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TXT. Invesco Ltd. raised its stake in Textron by 5.6% in the 1st quarter. Invesco Ltd. now owns 8,166,902 shares of the aerospace company's stock valued at $590,059,000 after purchasing an additional 433,567 shares during the last quarter. Northern Trust Corp boosted its position in Textron by 9.4% during the fourth quarter. Northern Trust Corp now owns 1,803,778 shares of the aerospace company's stock worth $137,971,000 after acquiring an additional 155,384 shares during the last quarter. Nuveen LLC acquired a new stake in Textron during the first quarter worth approximately $89,403,000. Balyasny Asset Management L.P. boosted its position in Textron by 6,785.9% during the fourth 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. Finally, D. E. Shaw & Co. Inc. boosted its position in Textron by 97.9% during the fourth 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. Hedge funds and other institutional investors own 86.03% of the company's stock.

Insider Activity at Textron

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TXT shares. The Goldman Sachs Group reiterated a "neutral" rating and issued a $85.00 price target (down previously from $95.00) on shares of Textron in a report on Tuesday, July 1st. Jefferies Financial Group reiterated a "buy" rating and issued a $95.00 price target (up previously from $85.00) on shares of Textron in a report on Thursday, June 12th. Barclays lifted their price target on shares of Textron from $95.00 to $105.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Morgan Stanley lifted their price target on shares of Textron from $71.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Finally, Wall Street Zen downgraded shares of Textron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $92.67.

Textron Stock Performance

Shares of NYSE TXT traded up $0.33 during midday trading on Monday, hitting $79.22. The company's stock had a trading volume of 1,571,003 shares, compared to its average volume of 1,537,120. Textron Inc. has a 1-year low of $57.70 and a 1-year high of $91.48. The firm's fifty day moving average price is $80.18 and its 200-day moving average price is $74.72. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.84. The firm has a market cap of $14.12 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.29 and a beta of 1.16.

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

Textron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 payout ratio 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.